U.S. Hotel Construction Drops 28.5% Year-over-year in June 2010

U.S. Hotel Construction Drops 28.5% Year-over-year in June 2010

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | July 15, 2010 2:09 PM ET

According to the June 2010 STR/TWR/Dodge Construction Pipeline Report released this week, the total active U.S. hotel development pipeline comprises 3,387 projects totaling 358,739 rooms.

This represents a 28.5-percent decrease in the number of rooms in the total active pipeline compared to June 2009. 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 rooms in the In Construction phase, New York, New York, topped the list with 9,416 rooms (compared with 12,870 rooms in 2009), which represents a 27.0-percent decrease from 2009, followed by Houston, Texas, with 2,527 rooms (52.0-percent decrease from 2009) and Dallas, Texas, with 2,168 rooms (a 28.0-percent decrease from 2009). Las Vegas, Nevada, reported 1,243 rooms in the In Construction phase and fell 84.0 percent compared to 2009, for the largest decrease among the top 10 markets.

U.S. pipeline Top 10 Markets by number of rooms in construction:

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