While Covid-19 has dealt a hammer blow to the hospitality industry, the Asia-Pacific hotel construction pipeline, excluding China, shows continued growth in 2Q2020, according to a recent report by Lodging Econometrics (LE).
Asia Pacific’s total construction pipeline, excluding China, grew to 1,906 projects and 404,520 rooms, up six per cent and three per cent respectively, year-over-year.
Jakarta (above) tops the list of Asia-Pacific cities with the largest construction pipelines, followed by Seoul and Tokyo
Currently, the region has 996 projects – a cyclical peak for the region – and 225,734 rooms under construction. As well, 415 projects with 82,122 rooms are scheduled to start construction in the next 12 months; while 495 projects with a combined 96,664 rooms are in the early planning stage, up a remarkable 19 per cent by projects and 12 per cent by rooms year-over-year.
Additionally, during 2Q2020, the Asia-Pacific region, excluding China, saw 39 new hotels accounting for 8,863 rooms open.
Countries with the largest pipelines in Asia-Pacific, excluding China, are led by Indonesia with 345 projects (56,373 rooms), followed by India with 263 projects (35,839 rooms), and Japan with 243 projects (46,852 rooms). These three countries account for 45 per cent of the projects in the Asia-Pacific, excluding China, total pipeline. Next are Australia with 179 projects (33,672 rooms), and Vietnam with 157 projects (62,085 rooms).
Asia-Pacific cities with the largest construction pipelines are led by Jakarta, Indonesia with 78 projects (13,508 rooms); followed by Seoul, South Korea with 67 projects (13,233 rooms); and Tokyo, Japan with 59 projects (14,216 rooms). Next are Kuala Lumpur, Malaysia with 50 projects (13,325 rooms) and Bangkok, Thailand with 50 projects (12,711 rooms).
The top four franchise companies in the region are: Marriott International, at an all-time high, with 294 projects (63,558 rooms); AccorHotels with 214 projects (45,407 rooms); InterContinental Hotels Group (IHG) with 160 projects (33,721 rooms); and Hilton Worldwide, also at an all-time high, with 99 projects (22,797 rooms).
Top brands in Asia-Pacific’s construction pipeline, excluding China, are Marriott International’s Fairfield Inn with 51 projects (7,495 rooms) and Courtyard with 40 projects (8,295 rooms), both at record highs by project count. AccorHotels’ Ibis brands have 46 projects (9,080 rooms), and Novotel has 41 projects (9,973 rooms).
IHG’s top brands are Holiday Inn with 58 projects (12,100 rooms) and Holiday Inn Express with 30 projects (6,063 rooms). This is followed closely by IHG’s InterContinental Hotels, having record high counts, with 21 projects (4,986 rooms).
Hilton Worldwide’s top brands include Hilton Hotel & Resort, at a record high, with 34 projects (9,464 rooms); and DoubleTree by Hilton with 32 projects (6,446 rooms). Additionally, Hilton’s Garden Inn brand has hit a record high this quarter with 22 projects (4,560 rooms).
As Asia-Pacific was among the world’s first regions to successfully control the spread of Covid-19, this allowed for hotel construction to gradually restart at the end of April, causing only slight delays to project timelines.
Analysts at LE reported that while the region has begun to see a resurgence of Covid-19 in some areas, it has not had a significant impact on hotel development and most developers are optimistic that projects will continue as planned.
While Covid-19 has dealt a hammer blow to the hospitality industry, the Asia-Pacific hotel construction pipeline, excluding China, shows continued growth in 2Q2020, according to a recent report by Lodging Econometrics (LE).
Asia Pacific’s total construction pipeline, excluding China, grew to 1,906 projects and 404,520 rooms, up six per cent and three per cent respectively, year-over-year.
Currently, the region has 996 projects – a cyclical peak for the region – and 225,734 rooms under construction. As well, 415 projects with 82,122 rooms are scheduled to start construction in the next 12 months; while 495 projects with a combined 96,664 rooms are in the early planning stage, up a remarkable 19 per cent by projects and 12 per cent by rooms year-over-year.
Additionally, during 2Q2020, the Asia-Pacific region, excluding China, saw 39 new hotels accounting for 8,863 rooms open.
Countries with the largest pipelines in Asia-Pacific, excluding China, are led by Indonesia with 345 projects (56,373 rooms), followed by India with 263 projects (35,839 rooms), and Japan with 243 projects (46,852 rooms). These three countries account for 45 per cent of the projects in the Asia-Pacific, excluding China, total pipeline. Next are Australia with 179 projects (33,672 rooms), and Vietnam with 157 projects (62,085 rooms).
Asia-Pacific cities with the largest construction pipelines are led by Jakarta, Indonesia with 78 projects (13,508 rooms); followed by Seoul, South Korea with 67 projects (13,233 rooms); and Tokyo, Japan with 59 projects (14,216 rooms). Next are Kuala Lumpur, Malaysia with 50 projects (13,325 rooms) and Bangkok, Thailand with 50 projects (12,711 rooms).
The top four franchise companies in the region are: Marriott International, at an all-time high, with 294 projects (63,558 rooms); AccorHotels with 214 projects (45,407 rooms); InterContinental Hotels Group (IHG) with 160 projects (33,721 rooms); and Hilton Worldwide, also at an all-time high, with 99 projects (22,797 rooms).
Top brands in Asia-Pacific’s construction pipeline, excluding China, are Marriott International’s Fairfield Inn with 51 projects (7,495 rooms) and Courtyard with 40 projects (8,295 rooms), both at record highs by project count. AccorHotels’ Ibis brands have 46 projects (9,080 rooms), and Novotel has 41 projects (9,973 rooms).
IHG’s top brands are Holiday Inn with 58 projects (12,100 rooms) and Holiday Inn Express with 30 projects (6,063 rooms). This is followed closely by IHG’s InterContinental Hotels, having record high counts, with 21 projects (4,986 rooms).
Hilton Worldwide’s top brands include Hilton Hotel & Resort, at a record high, with 34 projects (9,464 rooms); and DoubleTree by Hilton with 32 projects (6,446 rooms). Additionally, Hilton’s Garden Inn brand has hit a record high this quarter with 22 projects (4,560 rooms).
As Asia-Pacific was among the world’s first regions to successfully control the spread of Covid-19, this allowed for hotel construction to gradually restart at the end of April, causing only slight delays to project timelines.
Analysts at LE reported that while the region has begun to see a resurgence of Covid-19 in some areas, it has not had a significant impact on hotel development and most developers are optimistic that projects will continue as planned.