STR’s April 2016 Pipeline Report shows 586,199 rooms in 2,528 projects Under Contract in the Asia Pacific region. The total represents a 5.8% increase in rooms Under Contract compared with April 2015 and a 0.5% 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.
Among the region’s key markets, Shanghai, China, reported the largest number of rooms In Construction with 10,152 rooms in 39 hotels. Two additional markets each reported more than 5,000 rooms under construction: Jakarta, Indonesia (6,760 rooms in 26 hotels), and Chengdu, China (5,687 rooms in 22 hotels).