The Next China Boom: Hotels
More than 211,000 hotel rooms are in development in China, a 13.9 percent increase from the current supply, according to a new report.
China has almost four times the number of rooms in development than India, the country with the second largest hotel development pipeline, according to the STR Global Construction Pipeline Report. India has 54,478 rooms in the pipeline, a 29 percent increase from the current supply.
STR's pipeline report tracks hotel projects that are in construction, final planning and planning stages, but does not include projects in the pre-planning stages.
The largest growth in the Asia/Pacific region, in terms of percentage increase, is in the Philippines, which is expected to grow by 35.7 percent in the next few years, with 14,048 rooms in the pipeline.
Other markets in the region expected to grow by more than 10 percent:
- Indonesia (+24.2 percent with 30,942 rooms)
- Vietnam (+18.7 percent with 8,500 rooms)
- Malaysia (+12.9 percent with 14,245 rooms)
- Cambodia (+12.3 percent with 1,755 rooms)
The region's total hotel development pipeline consists of 1,788 hotels totaling 385,043 rooms, according to STR data.