India’s Oyo Hotels & Homes represents the largest hotel supply count in the Asia Pacific region, data by STR revealed.
Hospitality group Jin Jiang International that leads in the number of rooms in the development pipeline.
Oyo’s Asia Pacific portfolio covers 952,495 rooms. Six additional companies showed more than 200,000 rooms in their existing supply.
Jin Jiang, with 391,088 rooms under contract, was one of four companies with more than 100,000 rooms in the total pipeline. Under contract covers the in construction, final planning and planning phases of the pipeline.
Speaking about the the hospitality industry in Asia Pacific, STR’s area director – Asia Pacific, Jesper Palmqvist said: “The Asia Pacific region features some of the world’s largest and most popular hospitality destinations. Much like other parts of the world, the region’s accommodation landscape is evolving, and that is reflected in the rapid growth of companies such as Oyo. Rapid growth in intra-APAC travel, solid performance metrics and growing destination popularity continue to position Asia Pacific for further development and investment, especially with branded properties, which have grown in presence over the past decade.”
Oyo represents largest hotel supply in Asia Pacific
Published: 30 October 2019 - 8 a.m.
By: Priyanka Praveen