STR’s October 2016 Pipeline Report shows 595,213 rooms in 2,654 projects Under Contract in the Asia Pacific region. The total represents a 5.4% increase in rooms Under Contract compared with October 2015.
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 252,195 rooms in 1,089 projects In Construction for the month, which is a 2.0% decrease in year-over-year comparisons.
Among the region’s key markets, Shanghai, China, reported the largest number of rooms In Construction with 8,762 rooms in 37 hotels. Three additional markets each reported more than 5,000 rooms In Construction: Chengdu, China (7,285 rooms in 28 hotels); Jakarta, Indonesia (6,978 rooms in 27 hotels); and Bali, Indonesia (5,697 rooms in 32 hotels).