STR reports US hotel pipeline for April 2012
The total active U.S. hotel development pipeline comprises 2,770 projects totaling 292,806 rooms, according to the April 2012 STR/McGraw Hill Construction Dodge Pipeline Report. This represents a 9.0-percent decrease in the number of rooms in the total active pipeline compared to April 2011. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the...
"Upscale and Upper Midscale segment hotel brands continue to show strength capturing 60 percent of all rooms in the In Construction and 54 percent of those in the active pipeline," said STR"s Duane Vinson, VP of database, content and integrity. "That is a slight increase from last year"s 59 percent share of rooms under construction and 52 percent in the active pipeline. Eight of the top 10 brands in the active pipeline are in these two Chain Scale segments with a combined room count of more than 101,000 rooms in development."
"Midscale and Economy scales, while down only slightly in active pipeline rooms from last year, are off considerably in rooms in construction," Vinson continued. "With a combined 4,625 rooms in construction, that"s a decline of 867 or 15.8 percent from last April"s 5,492 rooms."
Among the Chain Scale segments, the Luxury segment (+18.5 percent with 4,671 rooms) and the Upper Upscale segment (+10.9 percent with 16,570 rooms) were the only two segments to report an increase in rooms in the total active pipeline compared to April 2011. The Unaffiliated segment experienced the largest decrease in rooms in the total active pipeline, falling 18.7 percent with 84,351 rooms, followed by the Midscale segment with an 8.4-percent decrease with 23,840 rooms.
Four segments reported increase of more than 20 percent in the number of rooms under construction: the Unaffiliated segment (+39.8 percent with 10,785 rooms); the Luxury segment (+37.8 percent with 1,130 rooms); the Upscale segment (+30.7 percent with 18,051 rooms); and the Upper Upscale segment (+24.5 percent with 7,808 rooms). The Midscale segment reported the largest decrease in rooms under construction, falling 17.8 percent with 3,375 rooms.
About STR/McGraw Hill Construction Dodge Pipeline Report:
The Pipeline Report is co-produced by McGraw Hill Construction Dodge, and the 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.
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