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Asia Pacific Hotel Pipeline Continues to Grow

In June, 612,210 rooms in 2,767 hotel developments were under contract in the Asia Pacific region, as revealed in STR’s June 2017 Pipeline Report, marking a 6.2 percent increase in keys year-on-year.

Moreover, the region reported that the 270,976 units in 1,183 hotel projects were in construction during the month under review, an 8.5 percent jump over June 2016.

Among chain scale segments, the upscale sector accounted for the largest portion of rooms under contract, 25.9 percent with 158,312 rooms, and in construction with 96,246 units, representing 25.6 percent.

Accounting for 25.5 percent with 69,068 keys, upper upscale was the only other segment to represent 20 percent or more of rooms in construction.