According to STR’s April 2017 Pipeline Report, there are 608,581 rooms in 2,753 hotel projects Under Contract in the Asia Pacific region.
The total represents a 3.8% increase in rooms Under Contract compared with April 2016. The Asia Pacific region reported 270,115 rooms in 1,185 projects In Construction for the month. Based on number of rooms, that is a 6.5% increase in year-on-year comparisons.
Four key markets in the region reported more than 5,000 hotel rooms In Construction:
- Shanghai, China (10,325 rooms in 42 projects)
- Jakarta, Indonesia (5,552 rooms in 23 projects)
- Bali, Indonesia (5,225 rooms in 29 projects)
- Chengdu, China (5,082 rooms in 21 projects)
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
This article originally appears on DailyFT.