LONDON - STR’s July 2016 Pipeline Report shows 585,492 rooms in 2,547 projects Under Contract in the Asia Pacific region. The total represents a 5.1% increase in rooms Under Contract compared with July 2015.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The region reported 255,525 rooms in 1,042 projects In Construction for the month, a 0.6% decrease in year-over-year comparisons.
Among the region’s key markets, Shanghai, China, reported the largest number of rooms In Construction with 9,177 rooms in 36 hotels. Three additional markets each reported more than 5,000 rooms In Construction: Jakarta, Indonesia (7,123 rooms in 27 hotels); Chengdu, China (6,526 rooms in 25 hotels); and Bali, Indonesia (5,209 rooms in 30 hotels).
A note to editors: As of 1 March 2016, all references to STR data and analysis should cite “STR” as the source. Please refrain from citing “STR, Inc.” “Smith Travel Research” or “STR Global” in sourcing as those names no longer fit within the updated STR brand.
Photo caption: Shanghai, China.