There are a total of 2,384 hotels Under Contract in the region of Asia Pacific, totalling to 545,056 rooms Under Contract, states the Global Construction Pipeline Report by STR for the month of March 2015. This means that there has been a 6.2 per cent year over year rise in rooms Under Contract last month when compared with data for the month of March last year. This also translates into a 1.7 per cent drop in rooms under construction. The data that represents rooms Under Contract includes projects that are in the planning, final planning, and in construction stages. These figures, however, do not include projects that are in the unconfirmed stage.
The region of Asia Pacific presented 253,320 rooms Under Contract in 1,024 hotels under construction for the month of March 2015.
What is interesting to note here is that of the 253,320 rooms and 1,024 hotels that are being developed in the Asia Pacific region, a total of 140, 455 rooms and 455 hotel projects are located in China alone. This means that approximately half of all the new hotel construction projects that are present under construction in the APAC region are located in China. In figures, China holds an estimated 44 per cent of the total hotels under construction in Asia Pacific and an estimated 55 per cent of the rooms under construction in the region.
Apart from China, there were three other nations that reported more than 10,000 rooms that were under construction. These are Indonesia with 28,248 rooms under construction in 154 hotels, India with 26,411 rooms under construction in 163 hotels, and Malaysia with 10,197 rooms under construction in 37 hotels.