Lodging Econometrics (LE) has issued its latest Asia Pacific Construction Pipeline Trend Report, which showed a 2 percent drop in projects year-over-year (YOY) in the Asia Pacific market. The report, which excludes the Chinese market, shows an overall regional pipeline of 1,554 projects and 312,766 guestrooms.
A total of 844 projects and 174,302 guestrooms are under construction—a 3 percent increase in projects YOY, while projects scheduled to start in the next 12 months have leapt 27 percent with a showing of 325 projects and 68,923 guestrooms. Projects in early planning have dipped 18 percent, with 385 projects and 69,541 guestrooms.
Marriott International, InterContinental Hotels Group (IHG), and Hilton Worldwide comprise the top three hotel companies in the Asia Pacific Construction Pipeline, with 238 projects and 52,986 guestrooms; 121 projects and 28,278 guestrooms; and 70 projects and 15,281 guestrooms, respectively. The largest brand pipeline for each company is Marriott Hotels, IHG’s Holiday Inn, and Hilton Hotels.
Indonesia boasted the most robust pipeline in the region, with 372 projects and 61,832 guestrooms. India and South Korea accounted for the second and third largest pipelines, with a respective 247 projects and 38,386 guestrooms and 182 projects and 40,339 guestrooms. Seoul holds the largest pipeline of any city in the Asia Pacific market with 154 projects and 30,456 guestrooms. Jakarta follows with 112 projects and 20,410 guestrooms. Kuala Lumpur and Tokyo come in third and fourth, respectively, with 48 projects and 11,752 guestrooms and 48 projects and 10,946 guestrooms.
