According to the Q4 2022 Construction Pipeline Trend Report for the Asia Pacific region, excluding China, from Lodging Econometrics (LE), the region’s total construction pipeline stands at 1,903 projects/404,222 rooms, up 5% by projects and 2% by rooms year-over-year (YOY).
At the Q4 close, projects currently under construction stand at 946 projects/210,559 rooms, up 5% by projects YOY. Projects scheduled to start construction in the next 12 months stand at 317 projects/65,745 rooms. Projects in early planning reached a record count at Q4, closing the quarter at 640 projects/127,918 rooms, up 20% by projects and 14% by rooms YOY. The luxury, upper upscale, and upscale chain scales each hit peak project counts at the end of Q4.
