The first quarter 2024 U.S. Hotel Construction Pipeline Trend Report by Lodging Econometrics reported record-breaking figures, with hotel projects totaling 6,065 with 702,990 rooms, increasing 9.4% and 6.8%, respectively, over the same period in 2023. Projects in the early planning stages rose 9.4% from Q1 2023 to an all-time high of 2,662 and with 300,686 rooms. Renovations and conversion projects grew 4.5% over the prior year, with 2,041 or 266,405 rooms, marking record totals. See Lodging Econometrics
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