According to Lodging Econometrics (LE), the latest U.S. Construction Pipeline report includes 4,973 projects and 598,371 guestrooms—an increase of 7 percent year-over-year (YOY). For the economy the rate growth is low but running smoothly. Growth for the total pipeline is stalling as a result of a low growth rate.
A total of 1,520 projects and 198,710 guestrooms are currently under construction, which reflects a YOY increase of 10 percent—the highest number ever recorded during this cycle. Projects scheduled to start construction in the next 12 months also showed gains of 5 percent YOY with 2,312 projects and 264,924 guestrooms. Projects in the early planning stages have risen 8 percent YOY with 1,141 projects and 134,737 guestrooms. The numbers recorded for this sector are down from the previous month, which was the peak level of this cycle.