U.S. Hotel Construction
U.S. Hotel Construction Increased for Seventh Consecutive Month
CoStar Group | October 24, 2024
WASHINGTON – 24 October 2024 – The volume of U.S. hotel rooms under construction increased year over year for a seventh consecutive month, according to CoStar’s September 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. U.S. Hotel Pipeline September 2024 (percentage change from September 2023) In construction: 157,253 rooms (+7.0%) Final Planning: 268,190 rooms (+10.4%) Planning: 336,205 rooms (+38.4%) “Growth in rooms in construction has accelerated over the last seven months,” said Isaac Collazo, STR’s VP, analytics...
U.S. Hotel Construction Activity Highest Since February 2023
CoStar Group | July 18, 2024
WASHINGTON – 18 July 2024 – The volume of U.S. hotel rooms under construction reached its highest level in 16 months, according to CoStar’s latest June 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. U.S. Hotel Pipeline June 2024 (percentage change from June 2023) In construction: 157,713 rooms (+5.5%) Final Planning: 266,619 rooms (+9.8%) Planning: 333,827 rooms (+38.7%) “The number of rooms in construction has grown year over year for four consecutive months,” said Isaac Collazo, STR’s VP, analytics. “While upscale and upper m...
U.S. Hotel Construction Activity Rose in March, First Increase in Nine Months
CoStar Group | April 16, 2024
WASHINGTON – 16 April 2024 – The volume of U.S. hotel rooms under construction grew year over year for the first time since June 2023, according to CoStar’s March 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. U.S. Hotel Pipeline March 2024 (percentage change from March 2023) In construction: 156,525 rooms (+1.5%) Final Planning: 263,316 rooms (+9.8%) Planning: 324,522 rooms (+39.5%) “While the number of rooms in construction has grown, that figure remains below what was seen prior to the pandemic,” said Isaac Collazo, STR’s VP, a...
STR: U.S. Hotel Construction Up Year Over Year for First Time Since Late 2020
STR | January 18, 2023
HENDERSONVILLE, Tennessee—After 25 consecutive months of year-over-year declines, U.S. hotel construction increased slightly in December, according to pipeline data from STR. At a market-level, New York City, Phoenix and Dallas are set to see the largest supply percentage increases from current construction. Among the chain scales, the Luxury and Upscale segments lead in that measurement. U.S. Hotel Pipeline December 2022 (percentage change in comparison with December 2021): In Construction: 159,344 rooms (+0.3%) Final Planning: 213,066 rooms (+15.0%) Planning: 240,092 rooms (-15.6%) “While the overall pipeline ...
U.S. Hotel Construction Continued on a Downward Trajectory in June
STR | July 22, 2022
HENDERSONVILLE, Tennessee—While U.S. hotel construction has declined for seven consecutive months, rooms in construction in both New York City and Nashville represent a significant percentage of those markets’ existing supply. Additionally, planning activity continues to rise nationally, albeit at a slower pace, with markets such as Miami, Nashville and Phoenix showing increased interest from developers, according to STR. U.S. Hotel Pipeline June 2022 (percentage change in comparison with June 2021): In Construction: 149,198 rooms (-20.1%) Final Planning: 178,809 rooms (-11.3%) Planning: 281,190 rooms (+6.1%) ...
Decline Continues in U.S. Hotel Construction, but Planning Activity is Up
STR | April 14, 2022
HENDERSONVILLE, Tennessee — April 14, 2022 — While a steady hotel construction decline continues nationally, volume in New York City and Nashville represents a significant percentage of those markets’ existing supply. Additionally, planning activity continues to rise nationally with markets like Miami, Phoenix and San Francisco showing increased interest from developers, according to STR. U.S. Hotel Pipeline March 2022 (percentage change in comparison with March 2021): In Construction: 154,881 rooms (-15.7%) Final Planning: 177,756 rooms (-16.8%) Planning: 297,046 rooms (+26.3%) New York City ...
U.S. Hotel Construction Ends Year Down 61,000 Rooms From Peak
STR | January 14, 2022
HENDERSONVILLE, Tennessee — January 14, 2022 — The number of U.S. hotel rooms in construction is down roughly 61,000 from the country’s all-time high achieved in early 2020, according to December 2021 pipeline data from STR. The final two phases of the pipeline, construction and final planning, are down by double digits from the same time last year while activity in the planning stage has risen significantly. December 2021 (percentage change in comparison with December 2020): In construction: 158,906 rooms (-19.2%) Final Planning: 185,231 rooms (-20.6%) Planning: 284,502 rooms (+38.9%) "This past ye...
U.S. Hotel Construction Down 48,000 Rooms From Peak
STR | October 15, 2021
HENDERSONVILLE, Tennessee — October 15, 2021 — The number of U.S. hotel rooms in construction is down roughly 48,000 from the country’s all-time high in April 2020 (220,207 rooms), according to September 2021 pipeline data from STR. The final two phases of the pipeline, construction and final planning, are down by double digits from the same time last year while activity in the planning stage has risen significantly. September 2021 (percentage change in comparison with September 2020): In construction: 172,251 rooms (-20.3%) Final Planning: 205,829 rooms (-17.2%) Planning: 263,673 rooms (+41.1%) “The impact...
