Hotel construction thrives in Asia

BANGKOK, 17 May 2018: Across the Asia-Pacific region 1,534 hotel properties were under construction in April with Tokyo and Shanghai the two leading cities.

STR’s latest benchmarking on hotel developments indicates rooms under construction reached 343,315, an increase of 27.1% based on year-on-year comparisons with April.

Tokyo registered the most rooms under construction at 15,877 representing 13.6% of the existing room supply in the Japanese city.

Shanghai in China was the second highest with 8,826 rooms under construction, 3.6% of existing supply.

Jakarta, Indonesia’s capital city registered 6,823 rooms under construction, or 12.1% of the existing room supply.

Two other Chinese cities, Chengdu (4th) and Guangzhou 95th) showed a high count in April.  Chengdu registered 6,376 rooms under construction, 9% of existing supply and Guangzhou 6,028 rooms, 5.7% of existing supply.

(Source: STR)