STR Reports 9 Percent Decline in U.S. Hotel Development Pipeline

STR Reports 9 Percent Decline in U.S. Hotel Development Pipeline
By Kerry Medina

The total active U.S. hotel development pipeline comprises 2,835 projects totaling 310,387 rooms, according to the October 2011 STR/McGraw Hill Construction Dodge Pipeline Report.

This represents a 9 percent decrease in the number of rooms in the total active pipeline compared to October 2010. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.

Among the top 10 markets by rooms in the In Construction phase, Nashville, Tenn., reported the largest increase in rooms with a 333.1 percent increase with 1,490 rooms. Philadelphia (up 120 percent with 1,071 rooms), and Washington, D.C. (up 67.4 percent with 2,674 rooms) also reported significant year-over-year increases in rooms under construction. Chicago ended the month with the largest decrease in rooms under construction, falling 38.2 percent with 724 rooms.