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STR: Asia-Pacific pipeline at over 2300 hotels

Studio City Macau

The development boom in Asia Pacific is showing no signs of slowing, with 2,381 hotels totalling 554,215 rooms Under Contract in the region, according to the August 2015 STR Global Construction Pipeline Report.

This represents a 4.9% increase in rooms Under Contract compared with August 2014, and a 2.0% year-over-year decrease in rooms under construction.

The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The region reported 255,828 rooms in 1,016 hotels under construction for the month.

Among the region’s key markets, Shanghai, China, reported the largest number of rooms under construction with 7,963 rooms.

Four additional markets reported more than 5,000 rooms under construction: Chengdu, China (6,255 rooms); Jakarta, Indonesia (6,223 rooms); Bali, Indonesia (5,533 rooms); and Tokyo, Japan (5,097 rooms).

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