asia

Hotel construction down around the world, except in Asia Pacific region – Hospitality Net


HENDERSONVILLE, Tennessee – Asia Pacific is the only world region showing increased hotel construction activity in comparison with the end of Q4 last year, according to December 2021 data from STR.

December 2021 (% changes in comparison with December 2020)

Europe

  • In Construction: 221,789 rooms (-7.6%)
  • Final Planning: 163,805 rooms (-4.9%)
  • Planning: 159,232 rooms (+4.7%)
  • Total Under Contract: 544,826 rooms (-3.5%)

Germany (45,121) and the U.K. (31,464) continue to lead Europe in total rooms in construction.

Asia Pacific

  • In Construction: 473,983 rooms (+5.0%)
  • Final Planning: 170,210 rooms (-3.8%)
  • Planning: 297,687 rooms (+16.3%)
  • Total Under Contract: 941,880 rooms (+6.5%)

Among countries, China (290,265) remains atop the region with the most rooms in construction, followed by Vietnam (30,546).

Middle East & Africa

  • In Construction: 130,225 rooms (-5.5%)
  • Final Planning: 38,765 rooms (-14.3%)
  • Planning: 67,142 rooms (+2.8%)
  • Total Under Contract: 236,132 rooms (-4.9%)

Saudi Arabia (40,269) and the United Arab Emirates (31,715) lead in construction activity.

Americas

  • In Construction: 211,453 rooms (-16.8%)
  • Final Planning: 220,044 rooms (-20.6%)
  • Planning: 329,474 rooms (+39.0%)
  • Total Under Contract: 760,971 rooms (-1.0%)

The U.S. holds the majority of rooms in construction in the region. After the U.S., Mexico (14,020) and Canada (6,856) rank second and third, respectively, in room construction.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.



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