Regional overview: Asia Pacific hotel market to get close to 2,400 new hotels [Construction Report]
The largest project set to open in the APAC region in the coming years is the Mui Dinh Eco-Resort in Vietnam. (Photo: Chapman Taylor)
According to the TOPHOTELPROJECTS online database, the Asia Pacific region will see over 600,000 new rooms over the coming years.
In the coming years, 2,445 new hotels will add 587,751 rooms to the Asia Pacific hotel market.
We find out more about which countries are home to the strongest pipelines and which projects to keep an eye on.
2020 is a year of growth for APAC’s hotel market
For 2020 alone, 928 new hotels are planned around Asia-Pacific and will bring 215,443 new rooms to the region’s hotel market.
As of now, things look like they will slow down a little in the coming years, but the project pipeline is still impressive.
2021 will see 548 openings with 133,647 rooms. 366 properties with 93,594 rooms are planned for 2022 and 2023 will see 122 launches and 31,647 rooms. For 2024 and beyond, another 481 hotels with 113,420 rooms are confirmed.
Among the new hotels, the focus will lie on the upscale segment. 1,365 of the 2,445 planned hotels will be in the 4-star category while the remaining 1,080 will offer 5-star services and facilities.
Top national growth markets in APAC
Asia-Pacific’s fastest-growing national hotel markets are, quite unsurprisingly, led by China where 1,160 new hotels with 282,473 rooms will open in the coming years. However, given the recent circumstances caused by the COVID-19 outbreak, it is uncertain how quickly China’s 2020 openings can proceed.
Australia comes in second with 184 new hotels and 36,137 rooms, followed by India with 147 new properties bringing 23,722 rooms and Indonesia with 145 openings and 27,107 rooms.
Thailand is next in line with 124 launches and 31,853 rooms with Vietnam just behind it with 124 launches and over 45,000 rooms, which shows that properties in Vietnam will on average be larger than in many other APAC nations.
Malaysia, Japan, Russia and the Philippines close out the top 10 with 96, 81, 64 and 62 properties respectively.
APAC’s fastest-growing urban hotel markets
Given that China leads the APAC region’s hotel market growth by such a large margin, it’s obvious that several places in the top 10 fastest growing urban hotel markets in the region will be held by Chinese cities.
Chengdu and Shanghai head up the list with 58 and 46 new properties and 13,173 and 11,637 rooms each. Bangkok, a city with an ever-expanding hotel market, will get another 39 hotels, adding 9,971 rooms to the city’s hotel offering.
Melbourne, Hangzhou and Bali follow with 37, 35 and 33 hotels each. The 4 Chinese destinations of Shenzhen, Sanya, Wuhan and Beijing complete the list of top 10 cities with 30, 29, 29 and 27 openings each.
The fastest-growing hotel brands in APAC
Hilton Hotels & Resorts comes out ahead of its peers with 81 new hotels and 21,459 rooms. Citadines apart’hotels follows in a distant second place with 59 projects and 11,205 rooms and DoubleTree by Hilton is not far behind with 58 launches and 14,233 rooms.
Noteworthy hotel projects around APAC
Large international brands lead the hotel market’s growth in APAC, but smaller chains and local developers also create interesting offerings for their guests.
The largest project set to open in the APAC region in the coming years is the Mui Dinh Eco-Resort in Vietnam. Planned for early 2022, the development will include 7,000 rooms and 500 ocean-facing villas as well as amenities like a theme park, a casino, a beach club and a mountain clubhouse.
Set to launch in Q4 2020, the Grand Hyatt Jeju Dream Tower in Korea will have 1,600 rooms, of which 850 will be hotel residences. 11 food and beverage outlets, approximately 1,200 square metres of meeting space, indoor and outdoor pools, a fitness centre, a Western and a Korean spa and two kids’ clubs complete the property’s impressive offering.
The 1,086-room Eastin Gran Hotel Nha Trang in Vietnam will offer guests quick access to the city’s popular white-sand beach as well as the vibrant city’s downtown area. Facilities will include an all-day dining restaurant, a gym, a large outdoor rooftop swimming pool with pool bar and restaurant, an executive lounge, retail outlets and 500 square metres of conference space and meeting rooms.
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