APAC Hotel Construction Pipeline Rises 7% Year-Over-Year
Skift Take
The Q1 2024 Hotel Construction Pipeline Trend Report shows significant growth in the Asia Pacific region's hotel construction, with a 7% increase in projects and a 2% increase in rooms year-over-year, led by India, Vietnam, and Indonesia.
As seen in the Q1 2024 Hotel Construction Pipeline Trend Report from Lodging Econometrics, the total pipeline in the Asia Pacific region, excluding China, (APEC) reached a total of 2,021 projects/402,312 rooms, representing a 7% year-over-year increase in projects and a 2% YOY increase in rooms. At the close of the first quarter, there are 866 projects/198,267 rooms under construction in the region. Additionally, there are 340 projects/65,259 rooms scheduled to start construction in the next 12 months. The early planning stage also saw growth with a record 815 projects totaling 138,786 rooms.
Standout chain scale segment in the APEC region at the Q1 close include the upscale chain scale with 483 projects/97,013 rooms, upper upscale with 376 projects/83,028 rooms, and the luxury chain scale with 267 projects/52,346 rooms. The top three countries in the APEC region by project count at Q1 are India with 581 projects/70,178 rooms, Vietnam with 238 proj
