U.S. Hotel Pipeline Shows Measured Supply Growth

 The total active U.S. hotel development pipeline reveals a 9.2 percent increase in total room count over last year, according to the March 2013 STR Pipeline Report. The pipeline holds 2,717 projects, for a total of 320,750 rooms. The number of rooms under construction is nearly one-fifth (19.3 percent) higher than it was in March 2012. That said, the activity is centered in a limited number of cities. "The top 10 markets under construction account for 38 percent of current construction activity," said STR vice president of operations Bobby Bowers. "Nearly one-half of all rooms now in construction are in 22 markets." The New York City market has the most rooms under construction, at 10,247. STR is forecasting  a net supply gain of 1 percent in the U.S. for 2013.