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by Michael J. Shapiro | October 17, 2012

 The total number of hotel rooms in the US. development pipeline dropped 8.3 percent year-over-year in September, according to the latest STR/McGraw Hill Construction Dodge Pipeline Report. The 2,958 projects in the pipeline represent 289,145 rooms. However, the number of rooms under construction — roughly 64,000 — was 18 percent higher than last September's construction figures. "The top 10 U.S. markets accounted for more than one-third of the construction activity," said Bobby Bowers, STR's senior vice president of operations, in a statement. "New York was the runaway leader among the markets, with more than 9,000 rooms — approximately 15 percent of the U.S. total — in the ground." Los Angeles reported the largest increase over last year in number of rooms under construction, skyrocketing 208.2 percent to 1,005 rooms. Denver, Atlanta, Chicago and New York City all posted rooms-under-construction increases in excess of 10 percent.