As of June, the total number of rooms under contract in the United States has increased 11.1% compared to June 2014, according to a Hotel News Now story on the STR Pipeline Report.
The rise comes out to 3,511 projects, totaling 426,043 rooms. As for rooms in construction, the rate is 20.9% (128,734 rooms) during that same time frame.
Broken down into segments, several areas are booming in terms of rooms under contract. The luxury segment leads all chain scales with a 46.5% increase, and the upper upscale, upper midscale, and midscale sectors are all up more than 15% since last June.
Upscale and upper midscale are the two largest divisions in the stage, containing more than 125,000 rooms each, for 266,867 rooms total under contract. The figures in the category include projects the in construction, final planning and planning phases but not in the unconfirmed stage.
The rates are even greater for rooms in the in construction stage. The luxury segment is up 57.3% at 5,468 rooms. Upper upscale, upscale, upper midscale, economy, and unaffiliated have all seen double-digit increases.
The only segments with negative change are unaffiliated and economy in the under contract category (-21.0% and -12.9%, respectively) and midscale in the in construction category (-13.8%).
Related Stories
| May 13, 2014
19 industry groups team to promote resilient planning and building materials
The industry associations, with more than 700,000 members generating almost $1 trillion in GDP, have issued a joint statement on resilience, pushing design and building solutions for disaster mitigation.
| May 12, 2014
10 highest-rated green hotels in the U.S.
The ARIA Sky Suites in Las Vegas and the Lenox Hotel in Boston are among the 10 most popular hotels (according to user reviews) to also achieve Platinum status in TripAdvisor's GreenLeaders program.
| May 11, 2014
Final call for entries: 2014 Giants 300 survey
BD+C's 2014 Giants 300 survey forms are due Wednesday, May 21. Survey results will be published in our July 2014 issue. The annual Giants 300 Report ranks the top AEC firms in commercial construction, by revenue.
| May 5, 2014
8 modern trends in student dining
Creating a dining experience for the modern millennial requires not only a deep knowledge of good design, but also an understanding of what makes today’s students tick. Culinary designers and consultants provide insights into what trends are transforming the campus table.
| Apr 29, 2014
USGBC launches real-time green building data dashboard
The online data visualization resource highlights green building data for each state and Washington, D.C.
| Apr 16, 2014
Upgrading windows: repair, refurbish, or retrofit [AIA course]
Building Teams must focus on a number of key decisions in order to arrive at the optimal solution: repair the windows in place, remove and refurbish them, or opt for full replacement.
| Apr 11, 2014
Start your engines: Ferrari plans to build first ever hotel
Clad in the carmaker's signature "Ferrari red," the hotel will resemble the grill and hood of one of its iconic cars.
| Apr 9, 2014
5 important trends shaping today’s hotel construction market
AEC firms, developers, and investors worldwide are bullish on hotels. Our hospitality Giants share what’s new in this fast-morphing sector.
| Apr 9, 2014
Steel decks: 11 tips for their proper use | BD+C
Building Teams have been using steel decks with proven success for 75 years. Building Design+Construction consulted with technical experts from the Steel Deck Institute and the deck manufacturing industry for their advice on how best to use steel decking.
| Apr 2, 2014
8 tips for avoiding thermal bridges in window applications
Aligning thermal breaks and applying air barriers are among the top design and installation tricks recommended by building enclosure experts.
