Q1 Hotel Pipeline: Sri Lanka & Asia Pacific

Hotel Pipeline for Sri Lanka Q1 2019. Lodgings Econometrics forecasts 1,555 hotel room to open by 2020, increasing the supply of Sri Lankan hotel rooms by 13.7 per cent.

Hotel-pipeline-aisa-pacific-q1-2019According to Lodging Econometrics (LE), at the end of Q1 2019, the total construction pipeline in the Asia Pacific region consisted of 4,634 projects and 975,947 rooms. These figures are up by 75 projects and 14,771 rooms since the Q4 2018 period.

A similar number of projects are in the early planning stage as are scheduled to start in the next 12 months. Collectively, these will provide an additional 344,206 rooms across 1,575 projects.

Two-thirds of the Asia Pacific hotel construction pipeline is currently under construction. LE data shows 3,059 projects and 631,741 rooms in this phase of development.

Across the Asia Pacific region, there are 28,349 hotels currently open with 4.2 million rooms. LE forecasts that an additional 1,198 projects will open in 2019 with 202,908 rooms, followed by 1,164 projects and 215,879 rooms anticipated to open in 2020. This will increase the supply of open hotels by 8.3 per cent and the number of rooms by 9.8 per cent.

Hotel Pipeline Sri Lanka

Hotel-pipeline-sri-lanka-q1-2019

 

Within Sri Lanka, Lodging Econometrics records a total pipeline of 26 projects with 4,910 rooms. Of these, two-thirds, 17 projects, are currently under construction, 4 are scheduled to starting the next 12 months and 5 are in the early planning stages.

LE forecasts 3 projects to open in 2019, with 652 rooms and 6 projects, with 903 rooms anticipated to open in 2020. These will increase the current supply of hotel rooms by 13.7 per cent.

hotel-pipeline-sri-lanka-q1-2019-openSource: Data provided by Lodgings Econometrics – The Global Leader for Hotel Real Estate Intelligence

Hospitality Insider Issue 4