According to STR's September 2017 Pipeline
Report, there are 585,248 hotel rooms in 4,886 projects Under
Contract in the United States.
The total represents a 6.6%
increase in the number of rooms Under Contract compared with
In the In Construction stage, the U.S. reported
188,479 rooms in 1,440 projects. Based on the number of rooms,
that is a 5.7% increase year-on-year.
“The overall room construction total was down
from last month, but outside of Houston, there wasn’t a noticeable
decline in activity around hurricane-affected markets,” said Bobby
Bowers, STR’s senior VP of operations. “There is still potential
for that to change in next month’s reporting if damage to existing
sites and increased material costs continue to remain a challenge.
Regardless, construction activity and the total pipeline remains
up year over year – just at a lot lower rate of growth compared
Among the Top 26 Markets, New York, New York,
reported the most rooms Under Contract (25,607 rooms) and most
rooms In Construction (13,533 rooms).
Four additional markets each reported more than
15,000 rooms Under Contract for the month: Dallas, Texas (19,312
rooms); Orlando, Florida (16,368 rooms); Houston, Texas (16,266
rooms); and Los Angeles/Long Beach, California (15,023 rooms).
After New York, three other markets reported
more than 5,000 rooms In Construction: Dallas (7,047 rooms);
Nashville, Tennessee (5,497 rooms); and Las Vegas, Nevada (5,125
“The impact of new supply coming online is
already visible in occupancy rates among the major markets,”
Bowers said. “Demand in those markets continues to grow at a
healthy clip as well, but not enough to lift hotelier pricing
Under Contract data includes projects in the In
Construction, Final Planning and Planning stages, but does not
include projects in the Unconfirmed stage.
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