STR: US pipeline for February 2010
The total active U.S. hotel development pipeline includes 3,551 projects comprising 368,740 rooms, according to the February 2010 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 35.9-percent decrease in the number of rooms in the total active pipeline compared to February 2009. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include...
“We’re seeing comparable declines in room development across all regions of the country,” said Duane Vinson, vice president at STR. “The Mountain Region has posted the sharpest year-over-year decline due to a 75-percent (16,000-room) decline in the Las Vegas pipeline.”
Among the nine geographical U.S. regions, the Mountain region reported the largest year-over-year percent change in rooms in the total active pipeline, falling 95.3 percent to 32,701 rooms, followed by the East North Central region (-38.7 percent to 29,630 rooms) and the West South Central region (-38.1 percent to 59,793 rooms). The East South Central region (-37.6 percent to 24,077 rooms) and the South Atlantic region (-37.5 percent to 87,857 rooms) also posted large decreases in the number of rooms in the total active pipeline. The West North Central region ended the month with the smallest decrease of rooms in the total active pipeline, falling 7.3 percent to 15,542 rooms.
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
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