STRs July 2017 Pipeline Report shows 626,535 rooms in 2,834 hotel projects Under Contract in the Asia Pacific region. The total represents a 7.0% increase in rooms Under Contract compared with July 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The Asia Pacific region reported 276,757 rooms in 1,210 projects In Construction for the month. Based on number of rooms, that is an 8.3% increase in year-over-year comparisons.
Three key markets in the region reported more than 5,000 rooms In Construction:
- Shanghai, China (9,737 rooms in 43 projects)
- Jakarta, Indonesia (5,715 rooms in 23 projects)
- Chengdu, China (5,182 rooms in 23 projects)
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