The growth of new hotels across Asia-Pacific is showing no signs of slowing down, with STR’s June 2017 Pipeline Report showing 612,210 rooms in 2,767 hotel projects Under Contract in the Asia Pacific region, a 6.2 per cent increase compared with June 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 270,976 rooms in 1,183 projects In Construction for the month. Based on number of rooms, that is an 8.5 per cent increase in year-over-year comparisons.
Among Chain Scale segments, the Upscale segment accounted for the largest portion of rooms Under Contract (25.9 per cent with 158,312 rooms) and In Construction (25.6 per cent with 69,246 rooms). Upper Upscale (25.5 per cent with 69,068 rooms) was the only other segment to represent 20.0 per cent or more of rooms In Construction.