334 new hotels set to open worldwide in June 2019 [Infographic]
Hanói, Vietnam city skyline / The Asia Pacific region leads the way with 135 new hotel projects opening in June.
TOPHOTELCONSTRUCTION online database shows this growth in the international hospitality sector will yield a grand total of 66,524 new rooms.
There are 334 new hotels set to open worldwide in June 2019, according to TOPHOTELCONSTRUCTION. Once finished, these projects will yield a grand total of 66,524 new rooms.
One of the most interesting ways to approach these numbers is to examine them by region.
The Asia Pacific region leads the way with 135 new hotel projects opening in June. Meanwhile, North America is second with 93, followed by Europe with 60, the Middle East with 22, Latin America with 14, and Africa with 10.
In recent months it has become a trend for the Asia Pacific region to feature the most growth.
Asia Pacific Hotel Project Pipeline
One of the driving factors for hotel growth in the Asia-Pacific market is a corresponding rise in tourism in the region.
This rise, studies have shown, is being fueled not only by international tourists from outside the region, but also by domestic tourism within larger countries such as China, India, and Australia, which are largely leading the way in the market’s uptick in hotel properties.
Experts have often said that this trend is likely to continue.
The Rest of the World
The story of the Asia-Pacific region in June 2019 is only one small part of the larger narrative.
North America, which briefly led the international project pipeline in April 2019, is back into its usual place as the second most robust hospitality market on the planet. Europe being third with 60 upcoming projects is in line with recent trends.
The difference between Latin America with 14 projects and Africa with 10 is a negligible one. Both regions are interesting to investors given their vast potential, but they are not without their challenges.
Let’s take a look at a few other projects currently underway in the Asia Pacific region:
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