• THE WORLD OF HOSPITALITY: 10,000,000 restaurants 500,000 Hotels 100,000,000 Employees    ONLY ONE ASSOCIATION COVER THEM
  • INTERNATIONAL HOTEL AND RESTAURANT ASSOCIATION        Geneva, Paris, Barcelona, Washington, Buenos Aires,Beijing,Beirut

News Details

STR: U.S. hotel room construction on the decline

The number of hotel rooms under construction in the U.

S.

has declined or remained flat year over year for the three consecutive months, according to pipeline data from STR.

Overall, there were 179,979 rooms in construction across 1,400 hotels in December.

The number of rooms represented a 3.

7% decrease compared with the same month in 2016.

That decline followed a flat November (+0.

6%) and October (-0.

1%), and was the largest year-over-year room construction decrease in the U.

S since September 2011 (-7.

http://www.hsyndicate.org/picture/153000991.jpg

HENDERSONVILLE, Tennessee -- The number of hotel rooms under construction in the U.S. has declined or remained flat year over year for the three consecutive months, according to pipeline data from . Overall, there were 179,979 rooms in construction across 1,400 hotels in December. The number of rooms represented a 3.7% decrease compared with the same month in 2016. That decline followed a flat November (+0.6%) and October (-0.1%), and was the largest year-over-year room construction decrease in the U.S. since September 2011 (-7.8%). "We've seen three months in a row where construction numbers either decreased or remained flat, and we feel we can now call that a trend," said Jan Freitag, STR's senior VP of lodging insights. "A construction decline obviously bodes well for the current industry cycle. It appears that financing is becoming harder to obtain, and if demand growth holds, occupancy will not deteriorate as quickly or as much as anticipated."