Asia Pacific Hotel Rooms Under Contract Increases 2.5 Percent YOY for May 2016: STR

STR’s May 2016 Pipeline Report shows 587,339 rooms in 2,538 projects Under Contract in the Asia Pacific region. The total represents a 5.5 percent increase in rooms Under Contract compared with May 2015 and a 2.5 percent year-over-year increase in rooms In Construction.

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 260,709 rooms in 1,045 projects In Construction for the month.

Among the countries in the region, China reported the most rooms In Construction with 146,590 rooms in 485 hotels. Two other countries reported more than 20,000 rooms under construction: Indonesia (22,918 rooms in 110 hotels) and India (22,037 rooms in 138 hotels).

Last month, STR’s April 2016 Pipeline Report showed 586,199 rooms in 2,528 projects Under Contract in the Asia Pacific region. The total represented a 5.8 percent increase in rooms Under Contract compared with April 2015 and a 0.5 percent year-over-year increase in rooms In Construction.

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 253,600 rooms in 1,019 projects In Construction for the month of April.