The total number of projects in the U.S. hotel development pipeline at the end of the third quarter was up 10 percent year over year to with more than 5,300, according to a new report from Lodging Econometrics.
The Q3 pipeline increase is one percentage point higher than Q2’s 9 percent growth. Guest-room levels in the pipeline are up by 6 percent year over year to more than 629,000.
According to Lodging Econometrics, at the close of Q3 there was a total of 987 projects with about 135,000 rooms under construction. There are 2,074 projects with nearly 237,000 rooms scheduled to begin construction in the next 12 months—up 14 percent and 13 percent year over year, respectively.
Additionally, projects in the “early planning stage” are up 14 percent and approaching “record highs,” totaling 2,256 projects with more than 257,000 rooms—up 7 percent year over year—according to the company.
“The lodging industry is healthy,…
