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STR reports 5.7% YOY rise in hotel rooms under contract for November

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STR reports 5.7% YOY rise in hotel rooms under contract for November

STR reported a 5.7% increase in hotel rooms under contract in November in the Asia-Pacific region, compared to the same period in 2015.

The company's November 2016 Pipeline Report showed that there were 594,933 rooms spread over 2,659 projects under contract in the region. Data for rooms under contract included projects within the stages of in-construction, final planning and planning, excluding projects in the unconfirmed stage.

Rooms under 1,099 projects in construction reached 254,471 in the month, down 0.8% on the year, based on number of rooms.

China recorded the most rooms in construction with 136,451 rooms in 510 hotels. India and Indonesia exceeded the 20,000-room mark for rooms in construction, with 24,646 rooms in 154 hotels and 23,440 rooms in 120 hotels, respectively.