592,139 hotel rooms under contract in APAC: STR

STR’s December 2016 Pipeline Report has stated that there are 592,139 hotel rooms in 2,646 projects under contract in the Asia Pacific region.

The total represents a 2.4 per cent increase in rooms under contract compared with December 2015.

The region reported 266,032 rooms in 1,148 projects in construction for the month. Based on number of rooms, that is a 4.2 per cent increase in year-over-year comparisons.

Among chain scale segments, the upscale segment accounted for the largest portion of rooms under contract (25.7 per cent with 151,996 rooms) and in construction (27.1 per cent with 72,031 rooms).

The upper upscale segment was the only other segment to account for 20 per cent or more rooms in construction (24.8 per cent with 66,066 rooms).