Asia Pacific Hotel Market Has 2,313 Properties in Development Pipeline
According to the June 2014 STR Global Construction Pipeline Report, the Asia Pacific region reported 2,313 hotels under contract comprising 519,718 rooms.
The under contract data includes projects in the in construction, final planning and planning stages but does not include projects in the unconfirmed stage.
Among the chain scale segments, the upscale segment accounted for the largest portion of rooms under contract (28.2 percent) with 146,810 rooms. Three other segments each made up more than 15 percent of rooms under contract: the upper upscale segment (23.2 percent with 120,666 rooms); the luxury segment (16.0 percent with 83,304 rooms); and the unaffiliated segment (15.1 percent with 78,327 rooms).
The upscale segment also accounted for the most rooms under construction in June with 27.0 percent and 69,812 rooms, followed by the upper upscale segment (26.3 percent with 67,911 rooms) and the luxury segment (17.8 percent with 46,057 rooms).