U.S. Hotel Development Pipeline Down

The total number of projects in the U.S. hotel development pipeline continues to decrease, posting a 28.5 percent year-over-year decline for June, according to the STR/TWR/Dodge Construction Pipeline Report, released this week. There were 3,387 projects in development in June, for a total of 358,739 rooms. Las Vegas posted the steepest drop in year-over-year numbers: The city’s current 1,243 rooms in development represents an 84 percent decrease vs. last year.