“At year end, supply growth for Asia/Pacific will only be surpassed by supply growth in the Middle East/Africa”, said Elizabeth Randall, managing director at STR Global. “These two regions were the main focus of hotel development this year, as they were at the end of 2009. There is still great potential for branded supply in these emerging destinations, and with the strong economies in these markets, we expect 2011 to continue to be dominated by development in Asia/Pacific and the Middle East/Africa”.
Year-to-date 2010, 296 projects opened in the region with 57,495 rooms. There are 80 projects with 13,259 rooms in the region that are still expected to open in 2010. Looking ahead to 2011, there are 444 projects comprising 101,807 expected to open, and in 2012, there are 350 projects with 99,781 rooms expected to open.
In 2011, the Upper Upscale segment is expected to add the most rooms with 26,306 rooms. The Upscale segment is projected to open the most rooms (24,906) in 2012 among the Chain Scale segments.
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STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.strglobal.com.
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