CoStar: U.S. Hotel Room Construction Reaches Highest Level Since February 2023
WASHINGTON—The volume of U.S. hotel rooms under construction reached its highest level in 16 months, according to CoStar’s latest June 2024 data. U.S. Hotel PipelineJune 2024 Percentage change from June 2023In construction: 157,713 rooms (up 5.5 percent)Final Planning: 266,619 rooms (up 9.8 percent)Planning: 333,827 rooms (up 38.7 percent) “The number of rooms in construction has grown year over year for four consecutive months,” said Isaac Collazo, STR’s VP, analytics. “While upscale and upper midscale continue […]
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