Hotel pipeline soars in APEC region: LE

INTERNATIONAL REPORT — Through the end of the first quarter, Asia Pacific, excluding China (APEC), has hit a historic milestone with a pipeline of 2,021 projects (up 7% year-over-year) and 402,312 rooms (up 2% YOY), according to the latest data from Lodging Econometrics.

Construction projects totaled 866 and 198,267 rooms across the region through the first quarter, while 340 projects (up 13% year over year) and 65,259 rooms (up 10% year over year) are slated to start construction in the next 12 months. Projects in the early planning stage experienced remarkable growth, with 815 projects (up 27% year over year) and 138,786 rooms (up 15% year over year).

“Over the last year, South Central Asia has driven the growth in the construction pipeline in the region,” said Bruce Ford, senior vice president and director of global business development for Lodging Econometrics. “The most notable being a 150-project increase in the active pipeline in India now with nearly 600 active new construction projects.”

The top segment in the APEC region was upscale, with a record-high project and room count of 483 projects and 97,013 rooms. The upper upscale segment also hit record highs with 376 projects and 83,028 rooms. In addition, luxury projects also hit record highs, with 267 projects and 52,346 rooms.

The top three countries in the APEC region were India, with 581 projects and 70,178 rooms; Vietnam, with 238 projects and 85,085 rooms; and Indonesia, with 185 projects and 31,743 rooms. These three countries account for 50% of the projects in the region’s total pipeline.

Through the first quarter, the region had 72 new hotels and 13,714 rooms open, with an additional 311 hotels and 60,140 rooms forecasted to open the rest of the year. LE analysts anticipate 365 new hotels and 73,074 rooms opening in the region in 2025.

PREVIOUS LODGING ECONOMETRIC REPORTS

Last week, we discussed the booming pipeline in Latin America.

Two weeks ago, we discussed the hotel construction pipeline in Canada.

Earlier in May, we discussed why the U.S. hotel construction pipeline is surging

In March, we talked about the construction pipeline in Europe.