Q1 2023 U.S. Hotel Construction Pipeline Strengthens

The latest U.S. Hotel Construction Pipeline Trend Report by Lodging Econometrics reported first quarter 2023 hotel projects totaled 5,545, up 9% compared to the same period in 2022. Total hotel rooms under construction also rose 9% from Q1 2022 to 658,207. Projects in the early planning stages hit a record of 2,434 with 276,274 rooms, increasing 10% from 2022. Renovations and conversions grew to record levels, with projects soaring 38% to 1,953 and rooms jumping 37% to 253,533 over the prior year. See Lodging Econometrics