May 25, 2017 – PORTSMOUTH, NH – In Q117, there were 513 Projects/57,127 Rooms newly announced into the Hotel Construction Pipeline according to analysts at Lodging Econometrics (LE).
212 Hotels/24,122 Rooms opened in the U.S. in the first quarter. The majority of these opens, 93 Hotels/10,018 Rooms, were in Suburban locations. Almost half of the opens, 100 Hotels/12,856 Rooms were hotel properties with between 100-200 rooms. 79 of these hotels and 10,544 of the rooms, or 37%, were in a top 25 market.
For the remainder of the year, LE forecasts another 868 Projects/97,386 rooms to open for a Total of 1,080 Hotels/121,508 Rooms in 2017, a 22% increase over the Total number of openings last year. In 2018, LE forecasts an additional 1,283 Hotels/143,038 Rooms will open in the U.S.
