U.S. Hotel Construction Pipeline Ends 2023 at Record High

The fourth quarter of 2023 U.S. Hotel Construction Pipeline Trend Report by Lodging Econometrics reported record-high hotel projects totaling 5,964 with 693,963 rooms, increasing 9.0% and 7.0%, respectively, over the same period in 2022. Projects in the early planning stages rose 9.0% from Q4 2022 to a record 2,587 and 290,613 rooms. Renovations and conversions grew 5.1% over the prior year, with 2,028 projects/303,330 rooms, marking record totals. See Lodging Econometrics

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