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STR reports US hotel pipeline for September

October 20, 2014 Statistics & Trends No Comments Email Email

There are 3,291 hotels totaling 395,078 rooms Under Contract in the United States, according to the September 2014 STR Pipeline Report.

This represents a 14.3-percent increase in the number of rooms Under Contract compared with September 2013 and a 34.5-percent 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.

“Rooms under construction in STR’s top 26 markets topped 45,000 in September,” said Bobby Bowers, senior VP of operations at STR, Inc. “The top markets accounted for 41 percent of total U.S. construction, down from 45 percent at the same time last year, indicating increased development activity in secondary markets. The New York market was the runaway leader with 13,605 rooms under construction—over 12 percent of the U.S. total. Houston and Washington, D.C., round out the top three markets, which together account for about one of every five U.S. hotel rooms under construction.”

Among the Top 26 Markets, New York, New York, reported the most rooms under construction in September with 13,605 rooms, a 5.3-percent increase over September 2013. Four other markets reported more than 2,500 rooms under construction in September: Houston, Texas (4,504 rooms, up 143.6 percent); Washington, D.C. (3,036 rooms, up 5.9 percent); Chicago, Illinois (2,786 rooms, up 86.7 percent); and Miami-Hialeah, Florida (2,652 rooms, up 84.9 percent).

September 2014 Top 10 U.S. Markets by room count in the In Construction phase

Market Existing Supply In Construction Year-over-year percent change (In Construction)
New York, New York 112,117 13,605 +5.3%
Houston, Texas 76,130 4,504 +143.6%
Washington, D.C. 107,156 3,036 +5.9%
Chicago, Illinois 109,724 2,786 +86.7%
Miami-Hialeah, Florida 49,346 2,652 +84.9%
Anaheim-Santa Ana, California 54,747 2,073 +108.1%
Seattle, Washington 41,075 2,040 +95.6%
Dallas, Texas 78,695 1,678 +63.5%
Los Angeles-Long Beach, California 97,863 1,431 -40.9%
San Diego, California 59,645 1,381 +70.1%

Source: STR, Inc.

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