According to Lodging Econometrics, China has the largest development pipeline in the region, and is second globally only to the United States.
China has 316 projects and 107,725 guestrooms spread throughout the pipeline, according to the latest report from Lodging Econometrics. The room count is 63% of the total rooms in the entire Asian pipeline.
Development is fast tracked everywhere as many major cities in China are presently "under roomed." Accordingly, 65% of China's pipeline projects and 70% of the guestrooms are presently Under Construction.
International travel, both commercial and tourism is roaring. By the end of 2006 China will have grown to be the fourth largest tourist destination in the world. It expects to surpass the U.S. and become number one during the next decade. As the Chinese middle class is increasingly benefiting from the expanding economy, China's native tourist travel is growing impressively as well.
Beijing's pipeline has the fastest pace. Their pipeline consists of 36 projects with 11,288 guestrooms. Seven hotels are scheduled to open by the end of 2006, an additional 10 in 2007 and 12 in early 2008.
Shanghai's pipeline, at 43 projects and 13,957 guestrooms, is larger. The new openings will be spaced more evenly over the decade; 15 through 2007, 14 in 2008 and another 14 in 2009 and beyond. Shanghai's pipeline is timed for the World Expo that it will host in 2010.
Macau, Asia's gaming mecca, will benefit from both the 2008 Olympic Games and the World Expo in 2010, as will many of China's other primary and secondary cities. Macau has 24 active projects in the pipeline with 17,909 guestrooms. Projects average an amazing 746 rooms in size. 21 of the 24 pipeline projects are already under construction. Macau presently does 90% of the Las Vegas annual gaming revenue and is charging ahead to surpass them during the next decade.
Tianjin, Guangzhou, Ningbo, Chengdu, Shenzhen and Sanya combine for a total of 66 projects in the pipeline. Two-thirds, or 44 projects, are under construction and are timed to capitalize on the rapidly growing commercial and tourism travel boom ahead.
Marriott, Starwood, Hyatt, InterContinental, Hilton, Carlson, Choice and Wyndham are the market leaders in Asia. Additionally, Shangri-La is particularly strong in China, while Taj Hotels has the largest pipeline in India.