Among the regions key markets, Shanghai, China, reported the largest number of rooms under construction with 8,620 rooms.
There are 2,435 hotels totalling 562,781 rooms Under Contract in the Asia Pacific region, according to the November 2015 STR Global Construction Pipeline Report. This represents a 3.1% increase in rooms Under Contract compared with November 2014, but a 4.0% year-over-year decrease in rooms under construction. The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The region reported 256,565 rooms in 1,030 hotels under construction for the month.
Among the region’s key markets, Shanghai, China, reported the largest number of rooms under construction with 8,620 rooms. Three additional markets each reported more than 5,000 rooms under construction: Chengdu, China (6,820 rooms); Jakarta, Indonesia (5,669 rooms); and Bali, Indonesia (5,303 rooms).
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