Mid-Atlantic Region Leads U.S. Hotel Pipeline Development
There are 2,924 hotels currently under development in the U.S., for a total of 358,228 rooms, according to the February 2014 STR Pipeline Report. That represents an 11.8 percent year-over-year increase in the number of rooms. Three regions account for about 60 percent of those accommodations, with the Mid-Atlantic region leading the way with nearly 21,000 rooms in the pipeline. Of those, the New York Metropolitan Statistical Area accounts for nearly two-thirds. The Mid-Atlantic is closely followed by the South Atlantic and the West South Central regions in terms of pipeline activity; STR expects those three areas to dominate the active pipeline for all of 2014.