STR’s March 2016 Pipeline Report shows 592,299 rooms in 2,558 projects under contract in the Asia Pacific region. The total represents an 8.7% increase in rooms under contract compared with March 2015 and a 1.6% year-over-year increase in rooms in construction.
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 257,357 rooms in 1,022 projects In construction for the month.
Among Chain Scale segments, the upscale segment accounted for the largest portion of rooms under contract (27.0% with 160,063 rooms) and in construction (26.6% with 68,582 rooms).
The upper upscale segment was the only other segment to account for 20.0% or more rooms under contract (23.9% with 141,367 rooms) or in construction (22.5% with 57,855 rooms).