Oyo and Jin Jiang lead in Asia Pacific hotel presence
Oyo Hotels & Homes represents the largest hotel supply count in the Asia Pacific region, while Jin Jiang International leads in number of rooms in the development pipeline. As part of the STR 500, STR will release a list of the region’s 100 largest companies during this week’s Hotel Investment Conference Asia Pacific (HICAP) in Hong Kong.
Public financial filings were used to supplement STR data to compile the list, specifically for companies whose own room counts do not match those of STR, reflecting differences with STR’s traditional hotel property criteria.
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.
“The Asia Pacific region features some of the world’s largest and most popular hospitality destinations,” said Jesper Palmqvist, STR’s area director – Asia Pacific. “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.”
Palmqvist will be featured as chairman of HICAP, for the event’s 30th anniversary, alongside Robin Rossmann (STR’s international managing director), who will present the latest updates during the plenary session at 9:50 a.m. on Thursday, 24 October.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. For more information, please visit str.com.
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