Asia hotel pipeline grows

LONDON More than 2,000 hotels across the Asia Pacific are in an under contract pipeline representing a 6.2% year-over-year increase according to STR Global’s latest report.
The March 2015 STR Global Construction Pipeline Report, released Wednesday, claimed 2,384 hotels totalling 545,056 rooms were under contract.
This represents a 6.2% year-over-year increase in rooms “under contract” compared with March 2014, but a 1.7% decrease in rooms under construction.
Under Contract data includes projects under construction, final planning and planning stages, but does not include projects that are in an unconfirmed stage.
inside no 5The region reported 253,320 rooms in 1,024 hotels under construction during March.
Among the countries in the region, China reported the most rooms under construction with 140,455 in 455 hotels. Three other countries reported more than 10,000 rooms under construction: Indonesia (28,248 rooms in 154 hotels); India (26,411 rooms in 163 hotels); and Malaysia (10,197 rooms in 37 hotels).
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America.

sourced:traveldailynews.asia