Asia Pacific Hotel Development Pipeline Under Contract Up 7.8 Percent YOY for October
STRs October 2017 Pipeline Report shows 641,454 rooms in 2,917 hotel projects Under Contract in the Asia Pacific region. The total represents a 7.8% increase in rooms Under Contract compared with October 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 289,997 rooms in 1,245 projects In Construction for the month. Based on number of rooms, that is a 15.0% increase in year-over-year comparisons.
Five key markets in the region reported more than 4,000 rooms In Construction:
- Shanghai, China (9,877 rooms in 44 projects)
- Jakarta, Indonesia (5,932 rooms in 24 projects)
- Bali, Indonesia (5,378 rooms in 28 projects)
- Chengdu, China (4,538 rooms in 21 projects)
- Beijing, China (4,339 rooms in 17 projects)
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