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ANALYSIS

STR Global posts US hotel development pipeline report for March 2011

Tuesday, April 19, 2011, 14:00 Hrs  [IST]
By HBI Staff | Mumbai

According to the March 2011 STR/McGraw Hill Construction Dodge Pipeline Report, the total active US hotel development pipeline comprises 3,095 projects totaling 325,407 rooms. This represents an 8.2-per cent decrease in the number of rooms in the total active pipeline compared to March 2010. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.

Among the top 10 markets by number of rooms in the In Construction phase, Orlando, Florida, reported the largest increase in rooms under construction with a 108-per cent increase with 2,636 rooms. Three other markets experienced increases in rooms under construction of more than 30 per cent: Miami-Hialeah, Florida (+44 per cent with 1,026 rooms); Nashville, Tennessee (+40 per cent with 446 rooms); and Philadelphia, Pennsylvania-New Jersey (+32 per cent with 799 rooms). Houston, Texas, posted the largest decrease in rooms under construction, falling 75 per cent with 680 rooms.

Lana Yoshii, VP of content management, STR said, “Developers continue to focus on key US destination markets for growth. Of the top 10 largest hotel markets in the US, New York City—the fifth largest market—leads the charge with the most rooms under construction (6,763 rooms). With this addition, the market’s room supply will increase by almost seven per cent. Orlando and Washington, DC, have approximately 2,600 rooms under construction, which will increase their inventories by more than two per cent. Although Las Vegas has the most hotel rooms currently open, it only has 96 rooms under construction, as it continues to absorb the rooms that have opened during the past two years.”

Top 10 U.S. Markets by rooms in the In Construction phase

Market
Existing Supply (rooms)
In Construction (rooms)
Year-over-year percent change (In Contruction)
New York, NY
98,018
6,763
-36%
Orlando, FL
118,230
2,636
+108%
Washington, D.C.
104,503
2,619
+6%
Dallas, TX
76,951
1,475
-27%
Miami-Hialeah, FL
47,483
1,026
+44%
Philadelphia, PA-NJ
43,213
799
+32%
Chicago, IL
107,767
778
-46%
Atlanta, GA
93,781
691
-55%
Houston, TX
72,939
680
-75%
Nashville, TN
35,515
446
+40%

* Includes those projects in the In Construction, Final Planning and Planning phases

 
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