Nearly 20,000 Hotel Rooms in Thailand's Hotel Pipeline
Despite a tourism slump there are 104 new hotel projects with 19,284 rooms under development in Thailand's hotel pipeline. On a wider scale the Asia Pacific region has 1,826 hotels with 423,758 rooms coming up according to a mid year review issued by leading industry source Lodging Economics. Based on trending analysis 75% of these will be managed by a branded operator.
By far China has the largest pipeline with 964 properties, while India comes in second at 421. For segmentation midscale (midmarket) hotels is the leading segment with 31%, then upscale and luxury in order. Surprisingly economy hotels come in at the tail end with 6%.
In Phuket there in the first half of the year where over 30 hotels are at various stages of development we are seeing signs of construction slowdowns, delays in projected opening dates and other projects not yet commencing site work yet.