While U.S. hotel construction has declined for seven consecutive months, rooms in construction in both New York City and Nashville represent a significant percentage of those markets’ existing supply.
Each of the four world regions showed a year-over-year decline in hotel pipeline activity at the end of the second quarter.
According to Lodging Econometrics, Europe ends 2022’s first quarter with 11% decrease by rooms year-over-year.
At the end of Q1 ‘22, China’s total hotel construction pipeline reached record high project and room counts.
At the close of the first quarter, projects under construction in Canada stand at 62 projects/8,114 rooms.
These three companies combined account for 67% of the projects and 66% of the rooms in the total U.S. construction pipeline.
According to the Q1 2022 Construction Pipeline Trend Report for the United States from Lodging Econometrics, the total U.S. construction pipeline stands at 5,090 projects.