STR reports U.S. hotel Pipeline for February 2009
The U.S. hotel development pipeline includes 5,390 hotels with 575,202 rooms, according to the February STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 2.5-percent decrease in rooms from the development pipeline in January and an 11.4-percent drop from the development pipeline in February 2008. 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 chain-scale segments reported mixed year-over-year results in the number of rooms in the In Construction phase. The Midscale-without-Food-and-Beverage segment reported the largest increase of rooms in the In Construction phase, up 10.1 percent, with 61,682 rooms. Increasing 9.0 percent was the Upscale segment, ending the month with 50,959 rooms in the In Construction phase. With an 8.4-percent increase, the Luxury segment ended the month with 8,176 rooms in the In Construction phase. The Upper Upscale segment and the Unaffiliated segments reported double-digit decreases. Upper Upscale segment was down 40.5 percent to 15,989 rooms in the In Construction phase and the Unaffiliated segment was down 35.6 percent to 27,166 rooms in the In Construction phase.
U.S. pipeline by chain-scale segment
(number of rooms and percent change February 2009 vs. February 2008):
Chain Scale | Existing Supply | % Change | In Construction | % Change |
Total Active Pipeline | % Change |
Luxury | 99,068 | +8.9% | 8,176 | +8.4% | 15,658 | +16.3% |
Upper Upscale | 586,048 | +5.9% | 15,989 | -40.5% | 36,179 | -36.1% |
Upscale | 466,609 | +8.0% | 50,959 | +9.0% | 142,226 | +0.3% |
Midscale w/F&B | 507,890 | -1.8% | 9,146 | -3.5% | 30,186 | -0.5% |
Midscale w/o F&B | 782,548 | +6.8% | 61,682 | +10.1% | 168,204 | -0.9% |
Economy | 760,198 | +1.5% | 9,074 | -3.3% | 19,625 | -37.4% |
Unaffiliated | 1,515,125 | +1.6% | 27,166 | -35.6% | 163,124 | -20.7% |
Total | 4,717,486 | +3.3% | 182,192 | -8.1% | 575,202 | -11.4% |
Jeff Higley (STR)
VP, Digital Media & Communications
+1 (615) 824-8664 ext. 3318
STR