There are currently 608,581 rooms in 2,753 hotel projects currently under contract according to STR’s latest April Pipeline Report.
The total represents a 3.8% increase in rooms under contract when compared with the prior corresponding period in 2016.
Under contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The Asia Pacific region reported 270,115 rooms in 1,185 projects In Construction for the month. Based on number of rooms, this represents a 6.5% increase in year-over-year comparisons.
The four key markets which reported more than 5,000 rooms in construction include Shanghai, China with 10,325 rooms over 42 projects; Jakarta, Indonesia with 5,553 rooms in 23 projects; Bali, Indonesia with 5,225 rooms in 29 projects and Chengdu, China with 5,082 rooms in 21 projects.