Construction Pipeline U.S.

U.S. Hotel Pipeline for March 2014 Up 14.7% over 2013

Among the Top 26 Markets, New York, New York, reported the largest number of rooms under construction with 13,595 rooms, which represents a 32.7-percent increase in rooms under construction compared to March 2013.

Smith Travel Research The total active U.S. hotel development pipeline comprises 3,127 projects totaling 381,503 rooms, according to the March 2014 STR Pipeline Report. This represents a 14.7-percent increase in the number of rooms in under contract compared with March 2013 and a 41.9-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.

Top 10 U.S. Markets by rooms in the In Construction phase

Table - Top 10 U.S. Markets by hotel rooms in the In Construction phase

Source: STR
Note: Data through March 31, 2014

“Ten markets accounted for more than 34,000 under construction rooms—one-third of the total U.S. hotel construction activity, and a 33-percent increase from March 2013,” said Bobby Bowers, senior VP of operations at STR. “New York dominated the numbers, totaling 13,595 rooms under construction, 40 percent of the Top 10 market construction activity.  STR currently expects total U.S. net supply growth to reach 1.2 percent in full year 2014, up from 0.7 percent in 2013 but about one-half the long-term annual supply growth rate.” 

Among the Top 26 Markets, New York, New York, reported the largest number of rooms under construction with 13,595 rooms, which represents a 32.7-percent increase in rooms under construction compared to March 2013. Other markets to report more than 2,000 rooms under construction include: Washington, D.C. (+9.2 percent to 3,352 rooms); Houston, Texas (+276.8 percent to 3,116 rooms); Los Angeles-Long Beach, California (+41.8 percent to 2,740 rooms); and Miami-Hialeah, Florida (+83.8 percent to 2,290 rooms).

Minneapolis-St. Paul, Minnesota-Wisconsin, reported the largest percentage increase in rooms under construction (+606.4 percent to 664 rooms), whereas Detroit, Michigan, experienced the largest decrease (-46.5 percent to 384 rooms).

Please note: STR recently revised the pipeline definitions. What was formerly known as the Total Active Pipeline is now referred to as Under Contract. The Pre-Planning phase also has been renamed to the Unconfirmed phase.

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 and HotelNewsNow.com. For more information, please visit www.str.com.





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