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The pace of hotel construction has slowed down in Asia
The pace of hotel construction has slowed down in Asia
October 17, 2009In September, 970 hotels, accounting for 232.5 thousand rooms, were at the stage of planning and construction in Asian-Pacific region. In comparison to August the total number of rooms has declined by 2.8%.
Properties accounting for 165.6 thousand rooms were directly under construction - a 2% decline in comparison to August, the presented by the STR research company says.
The decrease was registered in all price categories of hotel properties, the sharpest decline was observed in the segment of elite hotels (5.4%, down to 38.9 thousand objects). The leader of the market, Shanghai, has reduced its construction activity by 13.4%.
The overall volume of supply on the hotel property market in the region has increased by 5.4% August to September, from 1.86 million to 1.87 million objects.
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