Lodging Econometrics (LE) reports in their Q3 U.S. Construction Pipeline Trend Report that projects in the early planning stage are up 373 year-over-year, from 1,221 in Q3 2017 to 1,594 now, marking a whopping 31 percent increase over the past twelve months.
Projects actually under construction are increasing at a slower rate of 3 percent, from 1,592 to 1,638 this year. Meanwhile, projects set to start construction over the next year is down 2 percent, from 2,198 in 2017 to 2,144 in 2018. LE also reports 1,024 new projects and 118,057 guestrooms will open this year, which they project will increase to 1,102 and 126,692, respectively, in 2019.
