September U.S. Hotel Construction Falls

U.S. hotel construction at the end of September was down 8.9% to 156,861 rooms compared to the same month in 2021, with New York, Nashville and Phoenix leading the current supply. Rooms in “final planning” dropped 15.5% to 173,932, but “in planning” projects grew 7% over September 2021 to 282,225. See STR