In January, the Asia/Pacific region showed 441,819 hotel rooms in construction, which amounted to a 14.1% year-over-year increase, according to STR's pipeline data.
LONDON—STR’s hotel pipeline data for the Asia Pacific region showed 2,021 projects accounting for 441,819 rooms in construction as of the end of January 2020. This represented a 14.1% 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 (+24.2%) in activity year over year.
1. Upscale: 110,855 rooms
2. Upper Midscale: 103,447 rooms
3. Upper Upscale: 99,148 rooms
Six countries reported more than 20,000 rooms under construction. China led with 224,579 rooms, which represented 8.1% of the country’s existing supply, followed by Japan (35,622 rooms, 5.0% of existing supply).
1. China: 224,579 rooms (8.1%)
2. Japan: 35,622 rooms (5.0%)
3. Vietnam: 31,727 rooms (29.6%)
4. India: 24,752 rooms (8.1%)
5. Indonesia: 22,292 rooms (6.0%)
6. Malaysia: 20,410 rooms (12.3%)
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. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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