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Analysts at Lodging Econometrics (LE) report that at the end of the third quarter of 2019, China’s total construction pipeline has grown to 3,380 projects/628,972 rooms. Currently, the country has 2,548 projects with 438,797 rooms under construction with projects scheduled to start construction in the next 12 months at 404 projects with 85,026 rooms. Projects in the early planning stage have 428 projects/105,149 rooms. Hotel development continues to thrive despite the continued economic struggles in the region and the ongoing trade and tariff disputes with the United States. In the third quarter, China announced 661 new projects with 80,692 rooms into the pipeline. Through the third quarter of 2019, China opened 658 new hotels/92,932 rooms with another 363 new hotels/45,799 rooms forecast to open by year-end. In 2020, 1,084 new hotels with lofty 157,893 rooms are forecast to open. Should all of these hotels come online in 2020, then China will open the largest number of new hotel rooms since the cyclical peak in 2014. In 2021, following a year of all-time high new hotel openings, LE forecasts that the number of new hotel openings will decelerate to 773 hotels with 135,294 rooms. Read Original Article |
