According to STR’s March 2017 Pipeline Report there are 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.
The region reported 267,986 rooms in 1,169 projects under Construction for the month. Based on number of rooms, that is a 4.1% increase year-on-year.
Construction underway on a high rise building in Singapore (2017)
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).
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.