Hotel Construction Pipeline Hits Record High in U.S.

The third quarter of 2024 U.S. Hotel Construction Pipeline Trend Report by Lodging Econometrics reported record-breaking figures, with hotel projects totaling 6,211 with 722,821 rooms, increasing 8.9% and 7.5%, respectively, over the same period in 2023. Projects in the early planning stages rose 17.0% from Q3 2023 to 2,817, with 322,308 rooms also marking historic peaks. Lodging Econometrics forecasts hotel openings to grow 31.5% over 2023 by the end of 2024. See Lodging Econometrics