Hotel Construction Pipeline Grew in Q1
Portsmouth, NH, May 3, 2018-The U.S. construction pipeline kicked off the first quarter of 2018 with 5,255 projects/636,174 rooms, up 4% by projects and 6% by rooms year-over-year (YOY), according to analysts at Lodging Econometrics (LE).
In comparison to the highest pipeline level recorded by LE, the current quarter is just 628 projects/149,373 rooms, or 11% beneath the peak, which occurred in Q208. We expect the pipeline to continue its modest growth through 2018.
There are 1,592 projects/205,449 rooms under construction, up 5% by projects YOY. Projects scheduled to start construction in the next 12 months, at 2,297 projects/272,459 rooms are down 5% by projects yoy and projects in early planning are at 1,366 projects/158,366 rooms, up 23% YOY.