flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

U.S. hotel construction pipeline continues its year-over-year growth

Codes and Standards

U.S. hotel construction pipeline continues its year-over-year growth

In its eighth consecutive quarter of growth, projects currently under construction stand at 1,729 projects/235,278 rooms.


By Lodging Econometrics | November 11, 2019

Courtesy Pixabay

In its fall report, buoyed by a steady consumer-driven economy, analysts at Lodging Econometrics (LE) reported that the total U.S. construction pipeline stood at 5,704 projects/700,496 rooms, up 6% by projects and 8% by rooms year-over-year (YOY). Pipeline totals continue to climb closer to the all-time high of 5,883 projects/785,547 rooms reached in the second quarter of 2008, and are just 179 projects shy.

In its eighth consecutive quarter of growth, projects currently under construction stand at 1,729 projects/235,278 rooms, the highest count recorded since the second quarter of 2008. Projects scheduled to start construction in the next 12 months, currently 44% of all pipeline projects, was 2,479 projects/286,125 rooms, very close to the all-time high set in 2009. It’s up a whopping 16% in projects and 13% in rooms, YOY. Projects in the early planning stage stand at 1,496 projects/179,093 rooms.

But as a result of declines in commercial investment brought about by the indecision caused by the global slowdown and the prolonged tariff imbroglio, this is the second quarter in a row where construction starts have declined, an indicator that pipelines growth may top out in late 2020/2021.

Through the end of the third quarter, 704 new hotels with 81,111 rooms opened across the U.S. with another 299 projects/33,059 rooms expected to open by year-end. New hotel openings in the LE forecast for 2020 stand at 1,112 new hotels/122,702 rooms followed by 1,126 new hotels/130,447 rooms scheduled to open in 2021.

This quarter is the first time this cycle where supply growth at 2% has risen and drawn even with demand growth which has fallen to 2%. In 2019, 16 of the top 25 markets show occupancy declines YOY while 11 markets show RevPAR declines. 

Related Stories

Codes and Standards | Mar 1, 2019

$1 billion Boston hospital project to include extensive disaster resiliency features

Mass. General expansion will be designed for four days of shelter in place.

Codes and Standards | Mar 1, 2019

U.S. cities have become more dangerous for bicyclists and pedestrians

Reduced speed limits, traffic calming, better education seen as keys to improvement.

Codes and Standards | Feb 28, 2019

High-income renters now the fastest-growing housing market segment

Growth is fastest in mid-sized cities with strong economies.

Codes and Standards | Feb 27, 2019

Katerra launches software platform for ‘entire lifecycle of the building process’

Firm is accepting industry applicants to test the product.

Codes and Standards | Feb 26, 2019

AAMA updates two specifications for test methods related to seismic drift

For evaluating window wall, curtain wall and storefront systems.

Codes and Standards | Feb 21, 2019

Researchers develop software that can calculate potential solar energy yield at any location

Accounts for dynamic shading from trees, buildings and other structures.

Codes and Standards | Feb 20, 2019

Hospitals not making much progress in reducing their carbon footprint

Energy benchmarking survey shows flat emissions pattern over past 20 years.

Codes and Standards | Feb 15, 2019

Super Bowl stadium helps alleviate Atlanta’s flood problems

Capacity to store more than 2 million gallons of storm water on site.

Codes and Standards | Feb 14, 2019

ISO publishes first global BIM standards

Based on British standard and a publicly available standard.

boombox1
boombox2
native1

More In Category

Sustainability

Grimshaw launches free online tool to help accelerate decarbonization of buildings

Minoro, an online platform to help accelerate the decarbonization of buildings, was recently launched by architecture firm Grimshaw, in collaboration with more than 20 supporting organizations including World Business Council for Sustainable Development (WBCSD), RIBA, Architecture 2030, the World Green Building Council (WorldGBC) and several national Green Building Councils from across the globe.




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021