Latest news
Hotel pipeline set to recover in Asia Pacific?
Lodging Econometrics, the global real estate research company, has revealed that the economic decline may be close to ending in the Asian Pacific hotel market.
The Q1 2009 Asia Pacific Construction Pipeline Report said that a bottom is forming, which will "hopefully" be followed by a modest recovery.
According to the report, China and India are making investments in infrastructure improvements and are counting on rising consumer spending.
China's hotel pipeline activity peaked in the first half of last year to cater for the influx of visitors arriving to see the Olympic Games, and as a result, the pipeline is down 22 per cent for projects and 20 per cent for rooms on last year. The country does however boast the second largest pipeline in the world, with 964 projects and 260,560 rooms under development.
A 65 per cent majority of those projects are high-end hotels, mostly in China's 25 largest cities. 57 per cent are larger than 200 rooms, and the overall average is 270 rooms.
In India, however, the pipeline consists of just 421 projects and 72,682 rooms, and there are 441 projects and 90,516 rooms in the pipeline for other Asia Pacific countries.