PORTSMOUTH, N.H. — In the second quarter of 2021, Lodging Econometrics (LE) reported Asia Pacific’s construction hotel pipeline, excluding China, dropped to 1,701 projects/364,487 rooms, down 11 per cent by projects and 10 per cent by rooms, year-over-year (YOY).
Currently, the region has 852 projects with 195,940 rooms under construction. Projects scheduled to start construction in the next 12 months stand at 390 projects/73,447 rooms and projects in the early planning stage stand at 459 projects/95,100 rooms.
Countries with the largest pipelines in the region are led by Indonesia, with 318 projects/51,197 rooms. India follows with 282 projects/37,617 rooms, then Vietnam with 180 projects/70,135 rooms. Next are Thailand with 135 projects/32,135 rooms and Japan with 133 projects/27,567 rooms.
Marriott International has the largest construction pipeline of Asia Pacific’s franchise companies with 260 projects/56,159 rooms, followed by Accor with 217 projects/49,819 rooms, InterContinental Hotels Group (IHG) at 142 projects/29,154 rooms, Hilton Worldwide with 90 projects/21,089 rooms and Hyatt Hotels with 72 projects/14,297 rooms.
The largest brands for each of these companies are IHG’s Holiday Inn at 51 projects/10,229 rooms, Accor’s Novotel with 49 projects/10,879 rooms, Ibis brands with 40 projects/7,980 rooms, Fairfield Inn with 40 projects/6,334 rooms and Courtyard at 37 projects/7,950 rooms.
In total, 44 new hotels with 7,010 rooms opened across the Asia Pacific region during the second half of 2021. There are another 216 new hotels/46,273 rooms expected to open in the second half, bringing the expected total for new hotel openings to 319 new hotels/64,807 rooms by the end of 2021. The LE forecast anticipates new hotel openings to continue ascending with 330 projects/67,241 rooms expected to open in 2022 and 350 projects/64,635 rooms in 2023.
