The upscale sector is driving the development of new hotels in Asia Pacific, according to the latest data from STR Global.
The company’s pipeline report for May 2013 found that there are currently 89 upscale hotels with more than 19,316 rooms in the pipeline in Asia – the largest of any segment. This is followed by the upper-upscale (60 hotels, 17,715 rooms) and luxury (53 hotels with 16,190 rooms) segments.
This trend is expected to continue in 2014, when STR Global forecasts that 137 new upscale hotels are expected to open in the Asia Pacific region, adding 32,478 rooms to the region’s inventory. The upper upscale (89 hotels, 25,590 rooms) and luxury segment (84 hotels, 24,195 rooms) segments will remain second and third.
Overall the level of hotel development in Asia is expected to dip slightly next year, from 639 openings in 2013 to 534 in 2014, although new projects may yet be announced.
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