Over 400,000 New Hotel Rooms Are Under Construction in Asia Pacific

News in Asia
Over 400,000 New Hotel Rooms Are Under Construction in Asia Pacific

The latest data from STR, world's leading Hotel Market Data & Benchmarking agency, there were 1,892 hotel projects in Asia Pacific's hotel pipeline in April 2019. When completed, they will add some 423,343 new rooms to the market.

This number shows a 23.3% year-on-year increase in the number of rooms in the final phase of construction.

There are rooms in three major hotel market segments: upscale, upper midscale and upper upscale. Budget travellers, alas, you are somewhat neglected this year. Interestingly, upper midscale shows the largest increase on year-to-year bases: 41.9% more than last year. Numbers of both upscale and upper upscale rooms increased moderately: 12.3% and 17.6% respectively.

Rather unsurprisingly, China tops the list of the cuntries with more than 20,000 rooms under construction. They have 225,170 rooms almost ready to welcome new guests. It is an equivalent of 8.8% of the country’s existing hotel room supply.

Japan expects 39,864 rooms to come ready soon (6.1% of the current number of all the hotel rooms); Indonesia comes third with 26,431 rooms (7.3%); it is followed by Vietnam – 24,831 rooms (25.6%); India closes the big five list with 21,068 rooms (7.4%).

Source

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