There are 3,671 projects totaling 441,559 rooms Under Contract in the United States, according to the April 2015 STR Pipeline Report. This represents a 15.2-percent increase in the number of rooms Under Contract compared with April 2014 and a 21.4-percent year-over-year increase in rooms under construction. The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
Among the Chain Scale segments, the Upper Upscale segment reported the largest year-over-year increase in rooms Under Contract, rising 38.2 percent to 34,904 rooms. The Upscale segment followed with a 27.7-percent increase to 131,158 rooms.
The Unaffiliated segment (-10.5 percent to 96,232 rooms) reported the largest decrease in the number of rooms Under Contract.
All segments but Economy (-27.1 percent to 655 rooms) reported an increase in rooms under construction, and four of those segments reported an increase of more than 15.0 percent. The Upper Upscale segment reported the largest year-over-year increase, rising 62.9 percent to 14,058 rooms.
“Upscale and Upper Midscale brands once again dominated the U.S. room construction numbers in April, accounting for about 84,000 rooms, or two-thirds of total U.S. construction activity,” said Bobby Bowers, STR’s senior VP for operations. “STR currently expects full-year 2015 U.S. net room supply growth of 1.3 percent.”