US Hotel Pipeline Growth Up Nearly 12 Percent
The active U.S. hotel development pipeline consists of 2,687 properties, for a total of 324,130 rooms, according to the May 2013 STR Pipeline Report. That room count represents an 11.6 percent year-over-year increase, while the number of rooms under construction has jumped by 22.4 percent. STR is expecting a net supply growth of about 1 percent for 2013. The Mountain region in the U.S. reported the largest increase in rooms in the active pipeline (up 41.2 percent), while the Pacific region posted the biggest jump in rooms under construction (up 56.2 percent).