China dominates Asian hotel pipeline
The hotel development pipeline in Asia Pacific comprises 1,104 hotels totalling 276,544 rooms, according to the January 2011 STR Global Construction Pipeline Report released on Friday.
“China and India have the most rooms under construction across the Asia Pacific region, which reflects the interest by international and regional chains to create brand awareness and cater to the growing number of domestic and international visitors in these strategic markets”, said Elizabeth Randall, Managing Director of STR Global.
By country, China ended the month with the largest number of rooms in the ‘In Construction’ phase with 101,118 rooms. The country makes up more than half of the region’s rooms under construction. Other countries that reported a significant number of rooms in the In Construction phase include India (31,104 rooms), Thailand (8,089 rooms), Vietnam (7,277 rooms), and Indonesia (5,103 rooms).
The Asia Pacific region has the second largest hotel pipeline of any global region, ahead of Europe (747 hotels totalling 124,234 rooms), Middle East & Africa (430 hotels, 117,300 rooms), Central & South America (146 hotels, 22,438 rooms), Caribbean & Mexico (128 hotels, 18,326 rooms). Last week STR reported that the US hotel pipeline comprises 2,997 projects with 317,157 rooms.