The construction pipeline for hotel projects in the U.S. increased by 9% year over year in the first quarter of 2023, representing the fourth consecutive quarter of total pipeline growth, according to a recent report from Lodging Econometrics.
The Lodging Econometrics’ U.S. Construction Pipeline Trend Report found that the first quarter of 2023 closed with 5,545 projects, or 658,207 rooms, in the construction pipeline.
Hotel projects currently under construction, projects scheduled for construction in the next year and projects in the early planning stages all saw year-over-year growth in Q1, with projects in the early planning stages accounting for 44% of the pipeline — an all-time high of 2,434 projects, or 276,274 rooms.
