HENDERSONVILLE, Tennessee—STR’s census database for year-end 2015 showed roughly 5 million hotel rooms in more than 52,000 properties in the U.S.
Chain Scales accounted for roughly 70% of the 5 million rooms compared with the 30% of rooms categorized as Independent. STR’s pipeline report for December 2015 showed 140,703 rooms In Construction in the U.S. The Upscale (49,203 rooms) and Upper Midscale (47,954 rooms) segments reported the largest number of those rooms In Construction.
“Select-service construction has been strong for the last two years and continues to remain so as these two segments alone account for more than two-thirds of all hotels currently in construction,” said Julie Gafney, STR’s VP, database operations center.
“When looking further at the total number of rooms Under Contract (In Construction, Final Planning and Planning), nearly 293,000 rooms are anticipated to open across these two segments over the next few years,” Gafney said. “To give greater perspective, if all of these rooms were to open and be added to today’s existing Upscale and Upper Midscale segments, it would result in a combined increase of 19%. Again, this will occur over a period of a few years and not tomorrow, but it will still be interesting to watch demand over the next three to four years as this supply growth is realized.”
Media Contacts:
Jeff Higley
VP, Digital Media & Communications
jhigley@str.com
+1 (615) 824-8664 ext. 3318
Nick Minerd
Public Relations Coordinator
nminerd@str.com
+1 (615) 824-8664 ext. 3305