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Asia-Pacific’s new hotel pipeline reaches over 585,000 rooms

An artist's impression of The Ritz-Carlton Melbourne

An artist’s impression of The Ritz-Carlton Melbourne

Asia-Pacific continues to show staggering growth with new hotels, with the latest STR Pipeline Report showing 585,492 rooms in 2,547 projects Under Contract in the Asia Pacific region.

According to STR’s July 2016 report, that’s a 5.1% increase in rooms Under Contract compared with July 2015.

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 255,525 rooms in 1,042 projects In Construction for the month, a 0.6% decrease in year-over-year comparisons.

Among the region’s key markets, Shanghai, China, reported the largest number of rooms In Construction with 9,177 rooms in 36 hotels.

Three additional markets each reported more than 5,000 rooms In Construction: Jakarta, Indonesia (7,123 rooms in 27 hotels); Chengdu, China (6,526 rooms in 25 hotels); and Bali, Indonesia (5,209 rooms in 30 hotels).

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