Over half a million hotel rooms under contract in Asia Pacific

Tuesday, 1 November 2016 00:02 - - {{hitsCtrl.values.hits}}

According to STR’s September 2016 Pipeline Report, there are 582,271 hotel rooms in 2,555 projects Under Contract in the Asia Pacific region.

The total represents a 4.6% increase in rooms Under Contract compared with September 2015.

The region reported 238,829 rooms in 1,018 projects In Construction for the month, which is a 5.5% decrease in year-on-year comparisons.

Among Chain Scale segments, the Upscale segment accounted for the largest portion of rooms Under Contract (26.1% with 152,039 rooms) and In Construction (27.0% with 64,536 rooms).

The Upper Upscale segment was the only other segment to account for 20.0% or more rooms Under Contract (25.4% with 147,788 rooms) or In Construction (25.3% with 60,511 rooms).

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.