LE Reports Asia Pacific Lodging Construction Pipeline at a New Peak
2,226 Projects with 506,646 Rooms
OCTOBER 10, 2008. Asia Pacific's Total Construction Pipeline has 2,226 projects with 506,646 rooms as of the end of Q2. The region has the second largest Pipeline in the world. Although at a new peak, Pipeline totals are in a 'topping out' formation, changing minimally over the last three quarters. This cresting presages a slowdown ahead in the explosive development growth seen this decade.
o 60% of all projects and rooms are Under Construction. At 1,368 projects/325,536 rooms, the totals represent a new high for the cycle. With so many projects already in the ground, the Pipeline is set to unfold at an accelerating rate through 2010.
o Projects Scheduled to Start Construction in the Next 12 Months have declined for two consecutive quarters. Q2 stands at 351 projects/88,327 rooms, down 16% by projects from the peak reached in Q4 2007. Early Planning totals declined to 507 projects/92,783 rooms after peaking in Q1.
Of the 20 markets with the largest Pipelines, 13 are in China and 5 in India. The other two markets are Bangkok and Jakarta.
Lodging Econometrics (LE) of Portsmouth, NH is the global authority for hotel real estate. LE conducts Supply Side research for all markets, developers and brands and companies in: U.S., Canada, Mexico, Central America and the Caribbean, Europe, Asia, Middle East, South America, and Africa.
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