The total active U.S. hotel development pipeline comprises 3,387 projects totaling 358,739 rooms, according to the June 2010 STR/TWR/Dodge Construction Pipeline Report released this week.
This represents a 28.5-percent decrease in the number of rooms in the total active pipeline compared to June 2009. 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 Top 10 Markets by rooms in the In Construction phase, New York, New York, topped the list with 9,416 rooms (compared with 12,870 rooms in 2009), which represents a 27.0-percent decrease from 2009, followed by Houston, Texas, with 2,527 rooms (52.0-percent decrease from 2009) and Dallas, Texas, with 2,168 rooms (a 28.0-percent decrease from 2009). Las Vegas, Nevada, reported 1,243 rooms in the In Construction phase and fell 84.0 percent compared to 2009, for the largest decrease among the top 10 markets.
|
Region |
Existing Supply (rooms) |
In Construction (rooms) |
Year-over-year percent change |
|
New York, NY |
93,708 |
9,416 |
-27.0% |
|
Houston, TX |
71,533 |
2,527 |
-52.0% |
|
Dallas, TX |
76,624 |
2,168 |
-28.0% |
|
Washington, D.C.-MD-VA |
103,391 |
1,524 |
-67.0% |
|
Atlanta, GA |
94,244 |
1,478 |
-57.0% |
|
Orlando, FL |
118,162 |
1,283 |
-76.0% |
|
Las Vegas, NV |
164,850 |
1,243 |
-84.0% |
|
Chicago, IL |
108,118 |
852 |
-57.0% |
|
Miami-Hialeah, FL |
47,229 |
768 |
-64.0% |
|
Denver, CO |
39,362 |
756 |
-49.0% |
Source: STR
About STR/TWR/Dodge Construction Pipeline Report:
The Pipeline Report is co-produced by Torto Wheaton Research, Dodge Construction and the dedicated pipeline team at STR. Available as an annual subscription or a local Market Supply Report, the Pipeline Report is a comprehensive look at new hotel development and existing supply in the U.S. and Canada.
About STR
STR provides clients —including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.str.com.
