WASHINGTON—The quantity of U.S. resort rooms below building grew yr over yr for the primary time since June 2023, in keeping with CoStar’s March 2024 information.
U.S. Lodge Pipeline
March 2024Share change from March 2023
In building: 156,525 rooms (up 1.5 %)
Last planning: 263,316 rooms (up 9.8 %)
Planning: 324,522 rooms (up 39.5 %)
“Whereas the variety of rooms in building has grown, that determine stays under what was seen previous to the pandemic,” mentioned Isaac Collazo, STR’s VP, analytics. “Nonetheless, month-over-month proportion modifications have largely improved since October 2023 and the 156,000 rooms in that ultimate section of the pipeline is the best since November of final yr. These will increase level to the rebalancing of the trade and the probability that builders are settling in for the lengthy haul with present-day rates of interest.”
Higher-midscale and upscale initiatives proceed to dominate the pipeline, accounting for greater than half of the in-construction room rely.
Chain Scale Segments (proportion of present provide, in-construction room rely)
- Luxurious (4.3 %, 6,466 rooms)
- Higher Upscale (2.8 %, 19,766 rooms)
- Upscale (4.0 %, 35,912 rooms)
- Higher Midscale (3.6 %, 42,605 rooms)
- Midscale (2.9 %, 14,733 rooms)
- Economic system (1.2 %, 7,946 rooms)
