Source: Hotel Business
By Hotel Business
August 1, 2019
PORTSMOUTH, NH—Analysts at Lodging Econometrics (LE) reported for the second quarter of 2019 that the total U.S. construction pipeline climbed to 5,653 projects/693,207 rooms, up 6% by projects and 9% by rooms year-over-year (YOY). Pipeline totals are just 230 projects shy of the all-time high of 5,883 projects/785,547 rooms reached in the second quarter of 2008.
Projects currently under construction stand at 1,727 projects/233,600 rooms with projects scheduled to start construction in the next 12 months at 2,552 projects/295,989 rooms. Both are at the highest levels since early 2008. Projects in the early planning stage stand at 1,374 projects/163,618 rooms.