Analysts at Lodging Econometrics report that at the end of the first half of 2019, Chinas total construction pipeline swelled to 2,991 projects/592,884 rooms, up 19% by projects and 7% by rooms year-over-year (YOY), both at all-time highs, amidst an economic slowdown. The China growth rate is expected to be 6.2% for 2019, the lowest reported since 1990.
Accor accounts for the largest hotel room presence in the Central/South America region, followed by Marriott International, according to census data from STR.
The Asia/Pacific region reported 470,650 hotel rooms in construction as of July 2019, which is a 27% year-over-year increase.
This article provides insight into the unique design of micro hotels, where demand is growing, and why these properties are a favourable investment to meet the growing demand of millennial travellers.