Asia Pacific Hotel Development Pipeline Under Contract Down 1.6 Percent YOY for March 2017
STR’s March 2017 Pipeline Report shows 583,054 rooms in 2,611 hotel projects Under Contract in the Asia Pacific region. The total represents a 1.6% decrease in rooms Under Contract compared with March 2016.
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 267,986 rooms in 1,169 projects In Construction for the month. Based on number of rooms, that is a 4.1% increase in year-over-year comparisons.
Among Chain Scale segments, the Upscale segment accounted for the largest portion of rooms Under Contract (26.0% with 151,561 rooms) and In Construction (26.7% with 71,631 rooms).
The Upper Upscale segment was the only other segment to account for 20.0% or more rooms In Construction (24.8% with 66,360 rooms).
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