HENDERSONVILLE, Tennessee—The total active U.S. hotel development pipeline comprises 3,049 projects totaling 317,343 rooms, according to the December 2010 STR/McGraw Hill Construction Dodge Pipeline Report released this week. This represents a 20.9-percent decrease in the number of rooms in the total active pipeline compared to December 2009. 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.
“New York City’s rooms under construction continue to lead the charge with the most number of rooms and highest percentage increase in new supply,” said Lana Yoshii, VP of content management at STR. “Its 6,000 rooms under construction are almost twice the number of rooms under construction in Washington, D.C. Only five markets (New York, Washington, D.C., Orlando, Houston and Dallas) have at least 1,000 rooms under construction compared to 11 markets in December 2009. Overall, hotel construction activity has moderated considerably, which is a promising sign for hotel operators still working to induce demand after these difficult economic times.”
Among the Top 10 Markets by number of rooms in construction, Houston, Texas (-58 percent with 1,602 rooms), and Atlanta, Georgia (-58 percent with 993 rooms) reported the largest decrease in rooms in the In Construction phase. Two of the markets ended the month with increases in rooms in the In Construction phase: Washington, D.C. (24 percent with 3,135 rooms), and Orlando, Florida (12 percent with 2,143 rooms).
U.S. pipeline Top 10 Markets by number of rooms in construction:
|
Region
|
Existing Supply (rooms)
|
In Construction (rooms)
|
Year-over-year percent change
|
|
New York, NY
|
97,972
|
6,001
|
-48%
|
|
Washington, D.C.
|
103,757
|
3,135
|
+24%
|
|
Orlando, FL
|
118,895
|
2,143
|
+12%
|
|
Houston, TX
|
72,123
|
1,602
|
-58%
|
|
Dallas, TX
|
76,967
|
1,445
|
-44%
|
|
Atlanta, GA
|
94,059
|
993
|
-58%
|
|
Miami-Hialeah, FL
|
47,333
|
762
|
-2%
|
|
Phoenix, AZ
|
60,717
|
752
|
-22%
|
|
Chicago, IL
|
108,468
|
694
|
-42%
|
|
Philadelphia, PA
|
43,592
|
623
|
-28%
|
Source: STR
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.
About STR
STR (www.str.com) provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. STR also founded the Hotel Data Conference (www.Hoteldataconference.com), which will be held 3-4 August 2011 in Nashville, Tennessee.
Media contacts:
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Communications Coordinator
rurie@str.com
+1 (615) 824-8664 ext. 3305
