Lodging Econometrics’ most recent Asia Pacific Construction Pipeline Trend Report, excluding China, states that the total pipeline for the region has 1,760 projects/362,826 rooms, up 13 percent by projects year-over-year (YOY). Analysts at Lodging Econometrics say these numbers establish a new record peak for this cycle.
The number of projects under construction is up 15 percent YOY at 971 projects/211,827 rooms. Projects scheduled to start construction in the next 12 months are at 393 projects/78,881 rooms, up 21 percent, while projects in early planning phases are at 396 projects/72,118 rooms, up 3 percent YOY.
The top three countries in the Asia Pacific hotel construction pipeline, excluding China, are: Indonesia with 440 projects/73,892 rooms; India with 213 projects/33,649 rooms; and Japan with 201 projects/42,350 rooms. Cities with the largest pipelines are: Jakarta with 112 projects/21,044 rooms; Seoul with 95 projects/17,657 rooms; and Tokyo with 61 projects/14,485 rooms.
The top hotel companies in the Asia Pacific construction pipeline, excluding China, are: Marriott International with 230 projects/54,568 rooms; AccorHotels with 223 projects/46,288 rooms; and InterContinental Hotels Group (IHG) with 120 projects/27,298 rooms. The largest brands in the pipeline for each of these companies are: IHG’s Holiday Inn with 50 projects/12,289 rooms; Accor’s Ibis Styles with 49 projects/9,752 rooms; and Courtyard by Marriott with 32 projects/6,591 rooms.