STR: US hotel pipeline for March 2010
“Fifteen of the Top 25 Markets have more than a 50-percent decline in year-over-year rooms in construction,” Vinson continued. “This compares with only five that have such a decline in the total number of rooms in the Active Pipeline.”
Among the Top 10 Markets by rooms in the In Construction phase, New York, New York, topped the list with 10,537 rooms, a 12.8-percent decrease from 2009. Three other markets reported more than 2,000 rooms in the In Construction phase: Houston, Texas (2,699 rooms); Washington, D.C. (2,471 rooms); and Dallas, Texas (2,012 rooms). In year-over-year measurements, Las Vegas ended the month with the largest decrease of rooms in the In Construction phase, falling 84.9 percent to 1,598 rooms, followed by Phoenix with an 82.9-percent decrease to 812 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.
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