U.S. Hotel Construction Pipeline Shows Moderate Increases Up 4 Percent by Projects and Rooms YOY
November 2, 2017 11:07am
November 2, 2017 – PORTSMOUTH, NH – According to a recent report by Lodging Econometrics (LE), the U.S. Construction Pipeline stands at 5,011 Projects/608,837 Rooms, up 4% by projects and rooms Year-Over-Year (YOY).
There are 1,592 Projects/208,523 Rooms Under Construction, up 8% and 7% YOY, respectively, the highest counts recorded this cycle. Projects Scheduled to Start Construction in the Next 12 Months, at 2,198 Projects/251,259 Rooms are down 1% YOY. Projects in Early Planning are at 1,221 Projects/149,055 Rooms. While these projects are up 10% YOY, the properties are smaller resulting in lower room-counts.
The Pipeline continues to grow at a moderate, upward pace and has established a new peak for this cycle. The previous cycle peak reached 5,882 Projects/785,547 Rooms in Q208. Current project counts are 15% below that level while rooms are 22.5% behind. Any acceleration in the Pipeline from its moderate growth rate is likely dependent on the tax plan and other economic measures being discussed in Congress.
Tags: lodging econometrics,
u.s. hotel construction pipeline,
u.s. construction pipeline,
Lodging Econometrics (LE) is the lodging industry’s leading consulting partner for global real estate intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable insights that turn their clients’ business goals into timely opportunities.
Contact: Emily Dennison
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