Building frenzy: Marriott International leads the way with 279 projects. Photo Credit: Adobe stock/dvolkovkir1980
The Asia Pacific is showing robust hotel construction according to
Lodging Econometrics’ (LE’s) most recent Asia Pacific Construction
Pipeline Trend Report. 71 new hotels, accounting for 12,637 rooms,
opened in the Asia Pacific region (excluding China) in the first quarter
of 2023.
The top three cities within the region with the largest pipelines at the close of the first quarter are:
· Bangkok, Thailand with 64 projects/16,386 rooms
· Jakarta, Indonesia with 46 projects/8,964 rooms
· Melbourne, Australia with 44 projects/8,642 rooms
· Kuala Lumpur, Malaysia with 43 projects/12,515 rooms
· Phuket, Thailand with 33 projects/8,557 rooms
The top 5 global hotel franchise companies in the Asia Pacific
Construction Pipeline account for 46% of the projects and 49% of the
rooms in the region excluding China. They are:
· Marriott International with 279 projects/60,525 rooms
· Accor with 206 projects/46,132 rooms
· InterContinental Hotels Group (IHG) with 155 projects/32,808 rooms
· Wyndham Hotels & Resorts with 129 projects/30,950 rooms
· Hilton Worldwide with 93 projects/21,578 rooms
The largest brands in the Pipeline for each of these companies are:
· Marriott’s Courtyard by Marriott with record projects and room counts of 42 projects/9,161 rooms
· Accor’s Novotel with 51 projects/10,452 rooms
· IHG’s Holiday Inn brand with 43 projects/9,680 rooms
· Wyndham’s top brand at the close of Q1 is Ramada Inn with 53 projects/7,566 rooms
· Hilton’s Hotel & Resort brand closed with 31 projects/8,613 rooms
LE analysts forecast a total of 379 new hotel projects/72,556 rooms
to open by year-end 2023 and estimate 396 new hotel projects/79,272
rooms to open in 2024.