Asia Pacific Hotel Development Pipeline Under Contract Up 2.2 Percent YOY for January 2017
STR’s January 2017 Pipeline Report shows 598,952 rooms in 2,670 hotel projects Under Contract in the Asia Pacific region. The total represents a 2.2% increase in rooms Under Contract compared with January 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 region reported 270,803 rooms in 1,176 projects In Construction for the month. Based on number of rooms, that is a 6.2% increase in year-over-year comparisons.
Four of the region’s key markets each reported more than 5,000 rooms In Construction:
- Shanghai, China (9,529 rooms in 42 projects)
- Jakarta, Indonesia (7,240 rooms in 29 projects)
- Chengdu, China (5,928 rooms in 27 projects)
- Bali, Indonesia (5,474 rooms in 31 projects)
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