Asia Pacific Hotel Development Pipeline Under Construction Up 4.3 Percent YOY for May 2017
STR’s May 2017 Pipeline Report shows 609,417 rooms in 2,760 hotel projects Under Contract in the Asia Pacific region. The total represents a 3.8% increase in rooms Under Contract compared with May 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The Asia Pacific region reported 271,915 rooms in 1,189 projects In Construction for the month. Based on number of rooms, that is a 4.3% increase in year-over-year comparisons.
Four countries in the region reported more than 10,000 rooms In Construction:
- China (153,243 rooms in 592 projects)
- Indonesia (22,793 rooms in 123 projects)
- India (20,750 rooms in 131 projects)
- Vietnam (10,273 rooms in 38 projects)
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Categories: Hotel Industry News