Asia-Pacific Hotel Pipeline Hits a Record High

Singapore’s October visitor arrivals registered 1.31 million, up 16.7% year on year. From September it was a rise of 3.1%. The October overnight visitor count was down -58.4% year on year to 367,800, which also brought down the average stay length by -15.5% to an average of 3 days. China was the top feeder market in October at 234,530, followed by Indonesia and Malaysia with 183,710 and 103,430, respectively. The China arrivals were up 91% year on year. For the first 10 months of 2024, arrivals totaled 13.90 million, up 23.3% year on year and at 87.6% of the 2019 total. China was the top source for the first 10 months and is at 87.1% of the 2019 pace at 2.71 million arrivals through October.

Hotel construction in the Asia-Pacific region, excluding China, reached an all-time high in the third quarter of 2024, per the latest Hotel Construction Pipeline Trend Report from Lodging Econometrics. By the end of Q3, the total number of hotel projects in the pipeline stood at 2,072 and 410,863 rooms, marking year-over-year increases of 7% and 3% respectively. Breakdowns can be found in the tables below.

Asia-Pacific Hotel Projects by Stage for Q3 2024

Asia-Pacific Chain Scale Breakdown for Q3 2024

Top Asia-Pacific Countries by Pipeline for Q3 2024

Top Asia-Pacific Cities by Pipeline for Q3 2024

Asia-Pacific Hotel Openings 2024–2026 Forecast

Radisson Hotel Group is aiming to have 200 properties in India by 2027 and increase presence in new tourist centers as well as business locations in tier 3 and 4 cities. Radisson has nine brands in India and expects 2025 to bring Park Inn & Suites by Radisson to locations like Thrissur (Kerala), Bengaluru, and tier 3 and 4 cities. They expect the Radisson brand to be grown in bulk, but newer brands like Park Inn & Suites by Radisson and Radisson RED will have faster growth.

IHG Hotels & Resorts announced the signing of a management agreement with Peachery LLP to launch Holiday Inn Ujjain in India. Scheduled to open in 2028, the new property will feature 100 rooms, including 10 suites, and will offer a range of dining options, including all-day dining, a lounge bar, and a specialty restaurant. The hotel will provide a banquet hall and five versatile meeting venues for events and meetings. Other amenities will include a pool and fitness center.

IHG also announced the signing of the first voco hotel on the Sunshine Coast, partnering with Sydney-based Felix Capital. The plans are to open voco Maroochydore Sunshine Coast in 2028. The hotel will form part of a mixed-use development with the hotel to complement Maroochydore’s entertainment and dining precinct. The hotel’s elevated hospitality proposition would be anchored by a destination-focused 140-seat specialty restaurant and 65-seat lobby bar, located on the ground floor. The hotel will offer more than 510 square meters of modern conference and event spaces in a stylish setting. The mixed-use development will also include nine luxury residences which will occupy levels 10 to 12 above the hotel but would not be part of the hotel’s operations.

The Mondrian Gold Coast is set to open in 2025 in Burleigh Heads in along the Gold Coast. The hotel will span 24 floors and will include 208 studios, suites, and homes (including two- and three-bedroom Beach Houses), crowned by the Sky House. There will be a ground floor restaurant and a third-floor pool club and restaurant.

Hospitality management company 1834 Hotels has been appointed to manage Elanor Hotel Accommodation Fund’s national portfolio in Australia. The move involves 18 hotel assets and is part of a strategy to maintain operational efficiencies and maximize asset value during the planned sale of the hotel portfolio. Elanor team members will join 1834 Hotels.

JLL’s Hotels & Hospitality Group announced the sale of the Hyatt Regency Bangkok Sukhumvit for THB5 billion (US$155 million). This is the largest single-asset hotel transaction on record in Thailand. JLL represented Grande Asset Hotels and Property Public Company Limited on the transaction. JLL said that this sale adds to an already hot market as they are expecting a substantial increase in volume to THB20 billion in sales in Thailand, which would be 300% higher than in 2023.

Homm, part of Banyan Group’s multi-brand ecosystem, is expanding its footprint with the opening of Homm Souvannaphoum Luang Prabang in Laos. This is Homm’s 12th hotel, adding its presence in Asia alongside China, Indonesia, Japan, South Korea, and Thailand. The former residence of Prince Souvanna Phouma, Laos’ former Prime Minister, now is a hotel with 24 spacious accommodations with private balconies. The mansion is surrounded by tropical gardens, a spa, and a swimming pool. The rooms measure 29 to 34 square meters. The highlights include the Laos Suite at 45 square meters, including a sitting area, large walk-in closet, and a Victorian-style bathtub, and the 68-square-meter Maison Suite, which was formerly the bedroom of Prince Souvanna Phouma. It includes a king-sized bed, lounge area, bathroom, and an airy balcony. The Homm hotel includes the 8LEMENTS Spa and an all-day dining restaurant offering different options for breakfast and lunch/dinner.