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Vietnam ranks second in hotel construction in Asia - Pacific

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January 18, 2022, 12:14 PM GMT + 7
  • The increase of hotel rooms in construction in Vietnam affirms the position and potentials of this hospitality market despite challenges induced by the pandemic.

Hotel construction activity around the world continued to be delayed during the final quarter of 2021 due to Covid-19 pandemic. However, the hospitality markets of Asia - Pacific generally and of Vietnam particularly are showing potentials for a solid growth in the future. 

According to December 2021 data from STR, Asia Pacific was the only world region showing increased hotel construction activity in comparison with the end of Q4 2020.

The total number of hotel rooms in construction in this region was estimated at 473,983, an increase of 5% over the same period in 2020. Meanwhile, the number of keys finalizing the planning period or under planning reached 467,897. In total, the region has 941,880 guestrooms under development, increasing by 6.5% compared to Q4/2020.

China led the region in the number of hotel rooms under construction with 290,265 keys, followed by Vietnam with 30,546 keys.

The information below will provide a more detailed landscape of the future hotel supply in Asia - Pacific and in other regions worldwide.

Asia Pacific
In construction: 473,983 rooms (+5.0%)
Final planning: 170,210 rooms (-3.8%)
Planning: 297,687 rooms (+16.3%)
Total under contract: 941,880 rooms (+6.5%)
Among countries, China (290,265) remains atop the region with the most rooms in construction, followed by Vietnam (30,546).

Europe
In construction: 221,789 rooms (-7.6%)
Final planning: 163,805 rooms (-4.9%)
Planning: 159,232 rooms (+4.7%)
Total under contract: 544,826 rooms (-3.5%)
Germany (45,121) and the U.K. (31,464) continue to lead Europe in total rooms in construction.  

Middle East & Africa
In construction: 130,225 rooms (-5.5%)
Final planning: 38,765 rooms (-14.3%)
Planning: 67,142 rooms (+2.8%)
Total under contract: 236,132 rooms (-4.9%)
Saudi Arabia (40,269) and the United Arab Emirates (31,715) lead in construction activity.

Americas

In construction: 211,453 rooms (-16.8%)
Final planning: 220,044 rooms (-20.6%)
Planning: 329,474 rooms (+39.0%)
Total under contract: 760,971 rooms (-1.0%)
The U.S. holds the majority of rooms in construction in the region. After the U.S., Mexico (14,020) and Canada (6,856) rank second and third, respectively, in room construction.

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