Over two thousand hotels are presently in development across the globe, with the Asian/Pacific region leading the charge, according to the latest STR Global Construction Pipeline Report.
There are some 948 projects, comprising 239,918 rooms, in the planning or construction stages across the Asia/Pacific region, according to the data. Shanghai, China, was among the key markets in the region, ending January this year with 13,762 rooms in the pipeline.
Three other markets each reported more than 5,000 rooms in development: Bangkok, Thailand (7,929 rooms); New Delhi, India (6,768 rooms); and Beijing, China (6,294 rooms).
Europe follows closely behind, with a hotel pipeline of 602 hotels. The new properties will offer a total of 101,704 rooms when completed.
Among the key European markets, London, England, reported the largest number of rooms in the total active pipeline. There are some 6,223 rooms in the construction phase and a further 3,325 rooms in development.
Perhaps the most high profile of these developments is Donald Trump’s £1bn golf resort in Menie, north of Aberdeen, Scotland.
A detailed masterplan has recently been submitted to Aberdeenshire Council, with the public now allowed to express their views.
Among the European chain scale segments, the upscale segment accounted for the largest portion of the total active pipeline; with 21.7 per cent or 22,031 rooms.
In turn, the economy segment made up 19.2 per cent of the total active pipeline, followed by the upper upscale segment (14.1 per cent or 14,374 rooms) and the unaffiliated segment (14.1 per cent and 14,329 rooms).
In the Middle East, some 456 properties are presently in development. Despite recent turmoil, Dubai reported the largest number of rooms in the pipeline, with 30,222 rooms in the construction phase and a further 15,563 rooms in active development.
Finally, STR reports 130 hotels in development in the Caribbean/Mexico region, while Central/South America can count 125 properties in the pipeline.
Among the countries in the latter region, Brazil reported the largest amount of rooms in the total active pipeline, followed, perhaps surprisingly, by Panama.