APEC Hotel Construction Soars to Record High in Q4 2024, Fueled by India, Vietnam, and Thailand

Among countries, India leads the pipeline, setting new records with 693 projects and 87,512 rooms, reflecting a 35% YOY increase in projects and 43% YOY rise in rooms. Vietnam follows with 251 projects and 90,245 rooms, while Indonesia ranks third with 174 projects and 31,193 rooms. Thailand holds fourth place, boasting an all-time high in room count at 43,381 rooms across 168 projects, with Japan completing the top five with 163 projects and 28,762 rooms.

Among cities, Bangkok, Thailand leads the way with 68 projects and 16,641 rooms, followed by Jakarta, Indonesia with 45 projects and 10,199 rooms. Phuket, Thailand comes next with 40 projects and 10,194 rooms, while Melbourne, Australia (36 projects/6,851 rooms) and Bengaluru, India (31 projects/5,935 rooms) round out the top five.

In 2024, the region welcomed 291 new hotels with 55,852 rooms, including 72 hotel openings and 16,234 rooms in the fourth quarter alone. Looking ahead, LE analysts project 359 new hotels with 73,505 rooms to open in 2025, followed by 337 hotels with 66,213 rooms in 2026.