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U.S. hotel construction heats up in March

Hotel construction for March 2015 trends 13.7 percent over 2014.


There are 3,566 projects totaling 433,589 rooms Under Contract in the United States, according to the March 2015 STR Pipeline Report. This represents a 13.7-percent increase in the number of rooms Under Contract compared with March 2014 and a 22.7-percent increase in rooms under construction.

The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

“The number of U.S. rooms under construction hit 126,171, which is an increase of almost 23 percent versus March 2014 but a decrease of about 2 percent from this past February,” said Bobby Bowers, STR’s senior VP for operations. “While Upscale and Upper Midscale brands continued their dominance of the construction numbers, Upper Upscale topped 14,000 rooms in construction—a 45-percent increase versus March 2014. That rise is another indication that the appetite for risk and return is increasing.”

Among the Top 25 Markets, New York, New York, reported the most rooms Under Contract with 29,928 rooms. Others rounding out the top five markets for rooms Under Contract include:

  • Houston, Texas (17,458 rooms);
  • Las Vegas, Nevada (12,484 rooms);
  • Dallas, Texas (11,337 rooms); and
  • Washington, D.C.-Maryland-Virginia (10,698 rooms).

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Source: www.hotelnewsresource.com

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