2,384 hotels with 545,056 rooms under contract in Asia Pacific Region
Tuesday, 28 April 2015 00:36
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According to the March 2015 STR Global Construction Pipeline Report, there are 2,384 hotels totalling 545,056 rooms under contract in the Asia Pacific region.
This represents a 6.2% year-on-year increase in rooms under contract compared with March 2014 and a 1.7% decrease in rooms under construction.
The region reported 253,320 rooms in 1,024 hotels under construction for the month.
Among the countries in the region, China reported the most rooms under construction with 140,455 in 455 hotels. Three other countries reported more than 10,000 rooms under construction: Indonesia (28,248 rooms in 154 hotels); India (26,411 rooms in 163 hotels); and Malaysia (10,197 rooms in 37 hotels).
The under contract data includes projects in the in construction, final planning and planning stages but does not include projects in the unconfirmed stage.
