According to data compiled by STR, June 2015 was
the first month in history in which the U.S. hotel industry
eclipsed 5 million available rooms.
STRís latest census shows 5,001,163 rooms in
53,554 properties nationwide. In the 88 months following February
of 2008 - the month in which the industry plateaued at 4.5 million
rooms - the U.S. census grew by more than 5,600 rooms per month.
The industryís quickest period of room growth
(for 500,000 rooms) came between April 1994 and March 1999, when
the U.S. census increased from 3.5 million to 4.0 million.
ďThe hotel industry is a sector of real estate that continues to
attract investors,Ē said Amanda Hite, STRís president and COO.
ďThe rate of growth in the industry reflects the continued
interest in the sector and its ability to generate return. RevPAR
(revenue per available room) in the U.S. has grown year-over-year
for 64 consecutive months. With more of the same in the forecast,
we expect growth in the industry to continue.Ē
census reached 3 million rooms in June 1987 and 4 million
rooms in March 1999.
See other recent news regarding: