Extended-Stay Hotels Set for Substantial Growth According to U.S. Hotel Construction Pipeline
September 8, 2017 11:53am
September 8, 2017 – PORTSMOUTH, NH – Through the first half of the year, there are 1,288 Projects/136,649 Rooms of extended-stay projects in the U.S. Hotel Construction Pipeline according to Lodging Econometrics (LE). 400 Projects/44,738 Rooms are Under Construction, and account for 26% of all projects Under Construction in the Total Pipeline. 643 Projects/68,242 Rooms will Start Construction in the Next 12 Months while an additional 245 Projects/23,669 Rooms are in Early Planning.
Home2 Suites by Hilton currently has 343 Projects/35,845 Rooms of extended-stay projects in the Pipeline, the largest of any brand. The second largest brand pipeline for extended-stay is Marriott’s Residence Inn with 187 Projects/23,617 Rooms, followed by Towneplace Suites with 184 Projects/18,757 Rooms.
In 2016, 224 Hotels/24,196 Rooms opened for extended-stay in the U.S. At year-end 2017, 248 Projects/27,431 Rooms are expected to open. In 2018, 329 Projects/35,705 Rooms and in 2019, 365 Projects/39,087 Rooms are forecast to open.
Tags: u.s. hotel construction pipeline,
Lodging Econometrics (LE) is the lodging industry’s leading consulting partner for global real estate intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable insights that turn their clients’ business goals into timely opportunities.
Contact: Emily Dennison
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