Asia-Pacific’s Record Hotel Pipeline – Minus China
Skift Take
India, Vietnam, Indonesia, Thailand, and Japan lead this quarter’s hotel construction pipeline in the APEC region. China doesn’t make an appearance.
Macau recorded 1,341,605 international visitor arrivals from January to July of this year, a year-on-year increase of 122%. The problem is that is only 68.1% of the same period in 2019. The biggest issue Macau faces is that they are only at 20% of VIP gaming revenue and they put a lot of faith in international arrivals and that has only recovered to 68% of 2019. Overall, visitor arrivals are up 37.1% year on year to 19,748,000 through July, with Macau getting their 20th million arrival in August, two months ahead of last year. Total arrivals are over 80% of the 2019 total.
According to the Q2 2024 Asia Pacific, excluding China (APEC), Hotel Construction Pipeline Trend Report from Lodging Econometrics, the total pipeline in APEC has hit a record 2,056 projects with 406,118 rooms. Currently, 864 projects with 199,784 rooms are under construction in the APEC region. Here are all the projections.
Total Construction Pipeline in APEC (Q2 2024) CategoryProjectsRo
