Source: STR

LONDON -- STR's June 2017 Pipeline Report shows 612,210 rooms in 2,767 hotel projects Under Contract in the Asia Pacific region. The total represents a 6.2% increase in rooms Under Contract compared with June 2016.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The Asia Pacific region reported 270,976 rooms in 1,183 projects In Construction for the month. Based on number of rooms, that is an 8.5% increase in year-over-year comparisons.

Among Chain Scale segments, the Upscale segment accounted for the largest portion of rooms Under Contract (25.9% with 158,312 rooms) and In Construction (25.6% with 69,246 rooms). Upper Upscale (25.5% with 69,068 rooms) was the only other segment to represent 20.0% or more of rooms In 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.

Alex Anstett
Media & Communications Coordinator - STR
STR