In its latest Construction Pipeline Report for the region, STR Global revealed that Shanghai now has 7,230 new rooms under development, while Jakarta has 6,743. Three other markets have more than 5,000 rooms under construction: Chengdu (6,537), Bali (5,613) and Delhi (5,350).
And the pace of new hotel development continues to accelerate. The report also revealed that there are now a total of 2,398 new hotels, comprising 543,378 rooms, under contract in the Asia Pacific region – including those under construction and in the planning stages. This marks a 6.9% increase compared to this time last year.
The number of rooms actually under construction has increased 0.5% year-on-year.