STR: U.S. Hotel Construction Declines but Planning Activity is Up
HENDERSONVILLE, Tennessee—While a steady hotel construction decline continues nationally, volume in New York City and Nashville represents a significant percentage of those markets’ existing supply. Additionally, planning activity continues to rise nationally with markets like Miami, Phoenix, and San Francisco showing increased interest from developers, according to STR. U.S. Hotel Construction Pipeline March 2022 (percentage change in comparison with March 2021): In Construction: 154,881 rooms (down 15.7 percent) Final Planning: 177,756 rooms (down 16.8 percent) […]
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