U.S. Hotel Construction Up in December

U.S. hotel construction at the end of December 2022 grew 0.3% to 159,344 rooms compared to the same month in 2021, with New York, Phoenix and Dallas leading the new supply. Rooms in “final planning” increased 15% to 213,066, but “in planning” projects fell 15.6% over December 2021 to 240,092. See STR