STR Reports U.S. Hotel Development Pipeline for March 2012

According to the March 2012 STR/McGraw Hill Construction Dodge Pipeline Report, the total active U.S. hotel development pipeline comprises 2,752 projects totaling 293,850 rooms.

This represents a 9.5% decrease in the number of rooms in the total active pipeline compared to March 2011.

The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.

Among the Chain Scale segments, the Upper Upscale segment reported the largest increase in rooms in the total active pipeline, rising 17.8% over March 2011 to 16,772 rooms, followed by the Economy segment with an 8.6% increase in rooms to 4,397. The Upper Midscale segment reported the only double-digit decrease in rooms in the total active pipeline, falling 14.0% to 82,815 rooms.

"We continue to see an increase in the number of rooms In Construction as strength in travel and tourism gathers momentum," said Duane Vinson, vice president Database Content and Integrity at STR. "Large meeting and conference hotel projects under the flags of Embassy Suites, Hyatt and Marriott are breaking ground again, as well as smaller projects under business-oriented brands such as Courtyard, Hilton Garden Inn, Residence Inn, Springhill Suites and Hyatt Place."

The Unaffiliated segment ended the month with the largest increase in rooms in the In Construction phase, rising 62.6% to 12,036 rooms, followed by the Upper Upscale segment (+39.5% to 7,730 rooms) and the Luxury segment (+37.8% to 1,130 rooms).

"There are a few large independent projects that have significantly impacted the overall number of non-branded rooms In Construction, namely the Revel Resort & Casino (Atlantic City, New Jersey) with 1,399 rooms, a new military lodging facility at Fort Benning, Georgia with 860 rooms, and the Margaritaville Casino Resort with 396 rooms being built in Bossier City, Louisiana," Vinson added.

The Upper Midscale segment (18,200 rooms) and the Upscale segment (17,416 rooms) reported the largest number of rooms under construction among the Chain Scale segments.

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