Several fast-emerging Asian countries are in the midst of a hotel development boom.
According to the latest regional pipeline report from STR Global, countries including Bangladesh, Myanmar, Mongolia and Sri Lanka have significant amounts of new hotel supply entering the market in the coming years, to cater for surging visitor arrival numbers.
In Bangladesh, the nationwide hotel inventory is likely to more than triple (+261.1%) in the coming years, with 4,170 new rooms either under construction or in the planning stages.
And no fewer than six other countries can expected to see their total hotel room supply jump more than 30% in the years to come. This is lead by Mongolia (+77.4% with 975 rooms), Myanmar (+67.5%, 4,109) and Sri Lanka (+51.0%, 5,204).
Also seeing significant development – albeit from widely variant base levels – are Bhutan (+46.7%, 78 rooms), Indonesia (+35.7%, 53,100) and the Philippines (+30.7%, 13,078).