The Asia/Pacific region reported 1,892 hotels with a total of 423,343 rooms in construction through April.
LONDON—STR’s pipeline data for the Asia Pacific region showed 1,892 hotel projects accounting for 423,343 rooms in construction as of April 2019. This represented a 23.3% year-over-year increase in the number of rooms in the final phase of the development pipeline.
A majority of the region’s rooms in construction are in three segments. Of those three, upper midscale projects represented the largest percentage increase (+41.9%) in activity year over year.
1. Upscale: 109,689 rooms (+12.3%)
2. Upper Midscale: 99,013 rooms (+41.9%)
3. Upper Upscale: 95,915 rooms (+17.6%)
Five countries reported more than 20,000 rooms under construction. China led with 225,170 rooms, which represented 8.8% of the country’s existing supply, followed by Japan (39,864 rooms, 6.1% of existing supply).
1. China: 225,170 rooms (8.8%)
2. Japan: 39,864 rooms (6.1%)
3. Indonesia: 26,431 rooms (7.3%)
4. Vietnam: 24,831 rooms (25.6%)
5. India: 21,068 rooms (7.4%)
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. For more information, please visit str.com.
+44 (0)207 922 1965
The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editorial Director Stephanie Ricca at firstname.lastname@example.org.