Hotel construction in China increases
By Andy Brown17 June 2019
China’s total construction pipeline related to hotel construction increased by 15% by projects and 8% by the number of rooms, according to a report by Lodging Econometrics. This means that both projects and rooms in the construction pipeline are at all-time highs.
The report revealed that there are now 2,845 projects and 590,809 rooms in the construction pipeline.
Construction growth has been substantially enhanced by the billions of liquidity unleashed by the government last year to offset a manufacturing slump and slowing economy, as well as combat the escalating trade dispute with the US.
China has 2,083 projects and 414,967 rooms presently under construction, an increase of 21% and 12% respectively compared to the same time last year.
Projects scheduled to start construction in the next 12 months stand at 387 projects and 83,074 rooms, both at record highs. Projects in the early planning stage stand at 375 projects and 92,768 rooms.
In terms of cities, Guangzhou has the highest amount of hotel construction work in the pipeline, followed by Chengd, Suzhou and Hangzhou.