Source: Hotel News Now
April 17, 2020
HENDERSONVILLE, Tennessee—New STR data shows that right as the global hotel industry entered the current phase of widespread closures due to the coronavirus (COVID-19) pandemic, hotel rooms in construction in the U.S. hit an all-time high—though that pipeline is beginning to show signs of change.
(STR is the parent company of HNN.)
In March, the U.S. had 215,000 hotel rooms in construction—surpassing prior-peak numbers of 211,000 rooms in December 2007. Tracking the pipeline undulations of the past to see how they may inform the present is something STR is monitoring, said Jan Freitag, STR SVP of lodging insights, on a webinar presentation Thursday.