Over 2,300 hotels under contract pipeline in Asia Pacific
Friday, 18 July 2014 00:00
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According to the June 2014 STR Global Construction Pipeline Report, the Asia Pacific region reported 2,313 hotels comprising 519,718 rooms under contract.
The under contract data includes projects in the in construction, final planning and planning stages but does not include projects in the unconfirmed stage.
Among the chain scale segments, the upscale segment accounted for the largest portion of rooms under contract (28.2%) with 146,810 rooms.
Three other segments each made up more than 15% of rooms under contract: the Upper Upscale segment (23.2% with 120,666 rooms); the Luxury segment (16.0% with 83,304 rooms); and the Unaffiliated segment (15.1% with 78,327 rooms).
The Upscale segment also accounted for the most rooms under construction in June with 27.0% and 69,812 rooms, followed by the Upper Upscale segment (26.3% with 67,911 rooms) and the Luxury segment (17.8% with 46,057 rooms).
