Topic: New Hotel Construction
The region has a total of 6,268 hotel projects with 800,298 guestrooms in the construction pipeline.
The company and Singapore-based developer EL Development will open the hotel in 2022 after a complete redevelopment of the site.
The group has acquired five new hotels in Portugal, France, Spain and Italy.
Ascendas Hospitality Trust acquired a portfolio of three hotels in Osaka, Japan for for JPY10,290.0 million (S$126.1 million).
The global construction pipeline has increased seven percent from hotel projects year-over-year.
Meliá Hotels International will open The Grand Reserve at Paradisus Palma Real in the Dominican Republic in December 2018.
Construction on 80,000 guestrooms is scheduled to be complete in Japan's eight major cities.
China's total construction pipeline currently has 2,481 hotel projects with 546,424 guestrooms.
W Hotels Worldwide has signed the 593-room W Sydney, the brand's third hotel in Australia.
The hotel industry in the Asia-Pacific region has a total construction pipeline of 1,673 projects with 349,081 guestrooms.