Q3 U.S. Hotel Construction Pipeline Strengthens

The latest U.S. Hotel Construction Pipeline Trend Report by Lodging Econometrics reported third quarter 2023 hotel projects totaled 5,704 or 672,676 rooms, increasing 7% compared to the same period in 2022. Projects in the early planning stages also rose 7% from Q2 to 2,407 with 274,616 rooms. Renovations and conversions grew 3% over the prior year, with 1,912 projects and 285,568 rooms. Growth in renovations and conversions is projected to continue through 2025. See Lodging Econometrics