LONDON, 17 May 2017: STR’s latest Pipeline Report for April shows 608,581 rooms in 2,753 hotel projects under contract in the Asia Pacific region.
Shanghai reported the highest number of project in the pipeline representing an addition of more than 10,000 rooms.
The total pipeline performance in the region represents a 3.8% increase in rooms under contract compared with April 2016.
The Asia Pacific region reported 270,115 rooms in 1,185 projects were in construction for the month. Based on number of rooms, that is a 6.5% increase in year-over-year comparisons.
Four key markets in the region reported more than 5,000 rooms in construction led by Shanghai, China with 10,325 rooms in 42 projects.
Jakarta, Indonesia, was second with 5,552 rooms in 23 projects and Bali Indonesia third with 5,225 rooms in 29 projects.
Chengdu, China was fourth with 5,082 rooms in 21 projects.