PORTSMOUTH, N.H. — Analysts at Lodging Econometrics (LE) have reported hotel industry news at the fourth quarter close of 2021. The total U.S. construction pipeline stands at 4,814 projects/581,953 rooms, down eight per cent by projects and 10 per cent by rooms year-over-year (YOY).
While project totals have decreased slightly YOY, the number of projects in early planning stages increased 18 per cent by projects and 11 per cent by rooms for a total of 2,021 projects/239,816 rooms.
At the end of the fourth quarter, projects scheduled to start construction in the next 12 months stand at 1,821 projects/210,890 rooms. However, new project announcements are down in the fourth quarter due to high inflation rate, supply-chain shortages and various other factors.
Through year-end 2021, the U.S. opened 823 projects/105,705 rooms, for a growth rate of 1.9 per cent. This year, LE is estimating 783 projects/90,074 rooms to open at a supply-growth rate of 1.6 per cent. In 2023, 820 projects/98,112 rooms are expected to open at the same supply-growth rate.
