U.S. hotel Pipeline for June 2009
Among the nine geographic regions in the United States, eight regions experienced double-digit decreases in the amount of rooms in the In Construction phase for the month in year-over-year comparisons. The New England region was down 47.8 percent with 2,665 rooms in the In Construction phase, experiencing the largest decrease among the regions. Three other regions also reported decreases in the amount of rooms in the In Construction phase of more than 40 percent: Mountain region (-47.5 percent to 19,186 rooms); East North Central region (-42.1 percent to 11,013 rooms); and East South Central region (-41.1 percent to 8,279 rooms). The West South Central region was the only region to report an increase for the month, up 3.0 percent to 31,928 rooms in the In Construction phase.
“The Mountain region posts the sharpest decline in the total rooms in the overall active pipeline in year-over-year comparisons, down 37.7 percent, with the West South Central having the softest drop at negative 13.3 percent,” Vinson continued. “As we move into the second half of the year, comparisons with 2008 should become less dramatic; however, we will certainly continue to see much of the same with In Construction and Final Planning rooms tapering off.”
At the end of June, the number of rooms in the pipeline for each STR region is as follows:
|Region||Existing Supply||In Construction||Total Active Pipeline*|
|West North Central||329,554||5,553||20,117|
|West South Central||563,813||31,928||85,028|
|East North Central||557,951||11,013||40,076|
|East South Central||306,974||8,279||30,797|
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.
Jeff Higley (STR)
VP, Digital Media & Communications
Phone: +1 (615) 824-8664 ext. 3318
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 16 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.