Hotel construction in the US has reached record levels for the fifth consecutive quarter, industry analyst Lodging Econometrics says.
The third quarter of last year was the fifth consecutive record-setting quarter, with 817 projects accounting for 102,305 rooms.
There are 5,011 projects in the Pipeline.
Guestrooms in the Pipeline are 31 percent higher than in 1999 and the project count is 47 percent higher, Lodging Econometrics president Patrick Ford says.
“Surpassing 5,000 projects in the Pipeline is a milestone event,” Ford says.
“It reflects the surge of select service and mid-market brands developed earlier, as well as a number of new, contemporary brands launched in recent years”.
By staff writer