According to the recent Construction Pipeline Trend Report by Lodging Econometrics (LE), the Asia Pacific, excluding China (APEC), hotel construction pipeline hit an all-time high at the Q4 2024 close, climbing 5% year-over-year (YOY) to reach record counts of 2,085 projects/412,358 rooms.

At the close of the quarter, projects under construction accounted for 41% of the total pipeline with 848 projects and 47% of the rooms in the pipeline with 196,408 rooms. Projects scheduled to start construction in the next 12 months increased 7% YOY to 367 projects/67,617 rooms. Projects in the early planning stage saw significant growth, up 22% YOY to reach a record high of 870 projects with 148,333 rooms.

The higher-end chain scales continue to dominate the APEC region’s pipeline at the Q4 2024 close by projects. Upscale projects reached an all-time high room count and rose 16% by projects YOY to close the quarter at 517 projects/102,909 rooms. Upper midscale hotel projects increased YOY and stand at 376 projects/77,174 rooms at Q4. Upper upscale projects also grew slightly YOY at Q4 with 368 projects/80,095 rooms. In total, these three chain scales account for 1,261 projects totaling 260,178 rooms, or 60% of projects and 63% of rooms in APEC’s pipeline.

Countries with the largest construction pipelines are led by India, which hit record highs with 693 projects/87,512 rooms, up 35% by projects and 43% by rooms YOY. Next is Vietnam, with 251 projects/90,245 rooms, followed by Indonesia with 174 projects/31,193 rooms. Thailand is fourth with 168 projects and an all-time high room count of 43,381 rooms, and then Japan with 163 projects/28,762 rooms.

Cities with the largest construction pipelines are led by Bangkok, Thailand with 68 projects/16,641 rooms, followed by Jakarta, Indonesia with 45 projects/10,199 rooms, and Phuket, Thailand with 40 projects/10,194 rooms. Melbourne, Australia follows with 36 projects/6,851 rooms and then Bengaluru, India with 31 projects/5,935 rooms.

In 2024, the region saw 291 new hotels/55,852 rooms open, with 72 hotels/16,234 rooms opening in the fourth quarter alone. LE analysts forecast 359 new hotels/73,505 rooms to open in 2025 and 337 new hotels/66,213 rooms to open in 2026.

About Lodging Econometrics (LE)

For over 25 years, Lodging Econometrics (LE) has been the industry-leading provider of global hotel intelligence and decision-maker contact information. LE custom-builds business development database programs for hotel franchise companies looking to accelerate their brand growth, hotel ownership and management companies seeking to expand their real estate portfolios, and lodging industry vendors wanting to increase their sales. To learn more about our business development programs contact us: +1 603.431.8740, ext 0025 or info@lodgingeconometrics.com.

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