STR - US Hotel Pipeline for August 2010
September 15, 2010 - The total active U.S. hotel development pipeline comprises 3,418 projects totaling 360,506 rooms, according to the August 2010 STR/TWR/Dodge Construction Pipeline Report released this week.
This represents a 24.2-percent decrease in the number of rooms in the total active pipeline compared to August 2009. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.
“The August hotel development pipeline reports that rooms under construction have fallen off by almost 72,000 rooms versus the same period in 2009,” said Lana Yoshii, VP of content management at STR. “All regions in the United States have reduced its number of rooms under construction, ranging from a low of a 37-percent drop, to a high of a 74-percent reduction. The areas with the largest percent declines in rooms in the In Construction phase are the Pacific (-74 percent), Mountain (-67 percent) and New England (-65 percent) regions. However, the South Atlantic and West South Central regions have reported the biggest decline in the number of rooms under construction (reductions of approximately 19,000 and 14,000 rooms, respectively).”
Among the nine geographical U.S. regions, the New England region (-45.7 percent to 9,762 rooms) and the Mountain region (-45.7 percent to 29,943 rooms) reported the largest decrease in the number of rooms in the total active pipeline. Two other regions ended the month with decreases of more than 25 percent in the number of rooms in the total active pipeline: the West South Central region (-26.4 percent to 57,873 rooms) and the Pacific region (-26.3 percent to 44,200 rooms). The Middle Atlantic region ended the month with the smallest decrease in rooms in the total active pipeline, falling 4.7 percent to 59,800 rooms.
About STR/TWR/Dodge Construction Pipeline Report:
The Pipeline Report is co-produced by Torto Wheaton Research, Dodge Construction, and dedicated pipeline team at STR. Available as an annual subscription or a local Market Supply Report, the Pipeline Report is a comprehensive look at new hotel development and existing supply in the U.S. and Canada.
About STR
STR provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.str.com.
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