Tuesday, August 29, 2023

Asia Pacific Hotel Pipeline Hits All-Time High

  • 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, […]