Asia Pacific Hotel Pipeline Hits All-Time High
Skift Take
- In Q2 2023, the Asia Pacific hotel construction pipeline reached a record high of 1,936 projects with 401,766 rooms. Luxury, upper upscale, and upscale projects dominated the pipeline. Countries with the largest pipelines are India, Vietnam, Thailand, Indonesia, and Japan.
- Macau has surpassed Hong Kong as the preferred travel destination for mainland Chinese travelers in 2023, receiving nearly twice as many visitors. Around 50.9% of outbound Chinese travelers chose Macau, while Hong Kong received about 26.7%. Mainland Chinese tourists prefer destinations in East Asia and Southeast Asia.
- Accor is expanding its hotel offerings. They are introducing the Handwritten Collection in Thailand with the Andaman Beach Hotel Phuket, opening a Mercure hotel in Lucknow, India, and launching Lords Inn hotels in Jamnagar, Gujarat, and Kanki, West Bengal. Accor has also partnered with Reliance Industries and Renest Hotels & Resorts for new properties.
In the Q2 2023 Asia Pacific, excluding China, Hotel Construction Pipeline Trend Report from Lodging Econometrics, analysts state that the region is at an all-time project high of 1,936 with 401,766 rooms in the total pipeline at the quarter's close. The Asia Pacific region, excluding China, had 172 hotel projects/26,748 rooms open in the first half of the year, with another 227 new hotel projects/44,514 rooms expected to open in the second half, bringing the total forecast for new hotel openings to 399 hotels/71,262 rooms in 2023. The LE forecast anticipates new hotel openings in 2024 in Asia Pacific, excluding China, to settle in at 392 new hotel projects/79,649 rooms, with another 318 new hotel projects/61,153 rooms anticipated to open in 2025.
Asia Pacific Construction Pipeline Ending Q2 2023 StatusProjectsRoomsUnder construction944215,775Scheduled to start in the next 12 mos.29253,417Early planning700132,574 Asia Pacific Construction Development Activity by Type Ending Q2 2023 TypeProjectsRoomsLuxury22846,305Upper upscale34878,336Upscale42692,702 Asia Pacific Construction Pipeline by Country Country
