U.S. Lodging Pipeline Up More Than 13 Percent
Currently 3,166 U.S. hotel projects are in the works, according to the May 2014 STR Pipeline Report, totaling 381,291 rooms. That represents a 13.7 percent increase year-over-year. The number of rooms under construction skyrocketed by 41.1 percent over May of last year, led by the Mid-Atlantic region, whose 22,668 rooms in the construction phase represents a year-over-year increase of nearly 50 percent. The top three regions for rooms under construction — Mid-Atlantic, South Atlantic and West South Central — accounted for 60,635 rooms, roughly 60 percent of the national total.