There are 2,388 hotels totalling 556,592 rooms Under Contract in the Asia Pacific region, according to the May 2015 STR Global Construction Pipeline Report. This represents a 6.8-percent increase in rooms Under Contract compared with May 2014, and a 1.3-percent year-over-year decrease in rooms under construction. The 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 254,342 rooms in 1,014 hotels under construction for the month.
Among the region’s key markets, Shanghai, China, reported the largest number of rooms under construction with 7,334 rooms. Three additional markets reported more than 5,000 rooms under construction: Chengdu, China (6,278 rooms); Jakarta, Indonesia (6,197 rooms); and Bali, Indonesia (5,719 rooms).