556,592 Hotel Rooms Under Contract in Asia Pacific Region

According to the May 2015 STR Global Construction Pipeline Report, there are 2,388 hotels totalling 556,592 rooms Under Contract in the Asia Pacific region.

This represents a 6.8% increase in the number of rooms Under Contract compared with May 2014, and a 1.3% year-on-year decrease in rooms under construction.

The region reported 254,342 rooms in 1,014 hotels under construction for the month.

Among the region’s key markets, Shanghai, China, reported the largest number of rooms under construction with 7,334 rooms.

Three additional markets reported more than 5,000 rooms under construction: Chengdu, China (6,278 rooms); Jakarta, Indonesia (6,197 rooms); and Bali, Indonesia (5,719 rooms).

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