500,000 new hotel rooms to open in Asia Pacific

Asia Pacific’s hotel room supply will swell in the coming years, with more than half a million new rooms in the pipeline across the region.

According to STR’s latest development report, there are now 2,611 hotel projects under contract in the region, comprising 583,054 rooms. Of total, 1,169 projects with 267,986 rooms are already under construction.

The majority of these rooms will serve the higher end of the market; 373,739 keys (or 64% of the total pipeline) will be in the upscale, upper-upscale or luxury sectors, with upscale being the largest individual segment (151,561 rooms).

In contrast, the economy sector accounts for just 1.6% of the total Asia Pacific pipeline (9,402 rooms).