BANGKOK, 19 August 2019: Vietnam is leading its Mekong Region neighbours for new rooms under construction, making it the third-highest in the Asia-Pacific region.
STR’s hotel pipeline data for the Asia Pacific region showed 2,109 projects accounting for 470,650 rooms are under construction as of July 2019. This represented a 27% year-over-year increase in rooms in the final phase of the development pipeline.
The majority of the region’s rooms under construction are classified in the three categories: Upscale with 123,692 rooms, increasing 23.2%; upper midscale with 112,400 rooms (+47.6%) and upper-upscale with 102,043 rooms (+14.1%).
China has the most rooms under construction followed by Japan as it readies to host the Olympic Games, but Vietnam is now in the third-highest when counting rooms under construction.
It illustrates how Vietnam is now challenging its neighbours and emerging as a tourism powerhouse in Southeast Asia.
Five countries reported more than 20,000 rooms under construction. China led with 244,233 rooms, which represented 9.4% of the country’s existing supply, followed by Japan with 43,012 rooms representing 6.3% of the existing supply.
The Mekong Region’s emerging powerhouse, Vietnam, was in third place with 29,625 rooms (29.4%) followed by Indonesia in fourth place with 26,694 rooms (7.3%) and India with 24,801 rooms (8.4%).