{"id":1004177445,"date":"2017-05-18T07:22:17","date_gmt":"2017-05-18T15:22:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004177445"},"modified":"2022-12-08T03:38:07","modified_gmt":"2022-12-08T11:38:07","slug":"economy-watch-hotel-pipeline-grows-in-april","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-hotel-pipeline-grows-in-april\/","title":{"rendered":"Economy Watch: Hotel Pipeline Grows in April"},"content":{"rendered":"<p>By Dees Stribling, Contributing Editor<\/p>\n<div id=\"attachment_1004177448\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Fairmont_Austin_Hotel_construction.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004177448\" data-attachment-id=\"1004177448\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-hotel-pipeline-grows-in-april\/fairmont_austin_hotel_construction\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Fairmont_Austin_Hotel_construction.jpg\" data-orig-size=\"1024,998\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Fairmont_Austin_Hotel_construction\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Fairmont Austin Hotel under construction in Austin, Texas &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Fairmont_Austin_Hotel_construction.jpg?w=1024\" class=\"size-medium wp-image-1004177448\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Fairmont_Austin_Hotel_construction.jpg\" alt=\"The Fairmont Austin Hotel under construction in Austin, Texas \" width=\"300\" height=\"292\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Fairmont_Austin_Hotel_construction.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Fairmont_Austin_Hotel_construction.jpg?resize=300,292 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Fairmont_Austin_Hotel_construction.jpg?resize=768,749 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004177448\" class=\"wp-caption-text\">The Fairmont Austin Hotel under construction in Austin, Texas<\/p><\/div>\n<p>The number of hotel rooms under way in the U.S. increased nearly 15 percent in April compared to a year ago, according to hotel industry data specialist STR this week. Currently, some 4,843 hotels are in process, which will total 580,427 rooms if they&#8217;re all built. The STR total includes not only those under way, but also those on the drawing boards and those still unconfirmed.<\/p>\n<p>It might seem like a leap,\u00a0but in fact, the year-over-year increase is lower than this time last year, according to STR Senior Vice President of Operations Bobby Bowers. &#8220;While we won\u2019t know for sure for another several months, perhaps we are seeing the beginning of a slowing development activity period,&#8221; he said in a statement.<\/p>\n<p>\u201cLimited service still accounts for roughly two-thirds of all hotel construction in the country,\u201d Bowers added. \u201cBut the influx of new supply didn\u2019t seem to upset upscale and upper mid-scale performance during the first quarter. Helped by the Easter calendar shift, room demand growth was the highest in those two segments.\u201d<\/p>\n<p>Despite representing the lowest number of rooms in the pipeline, the <a href=\"https:\/\/www.commercialsearch.com\/news\/comfort-targets-ambitious-growth-in-2017\/\">economy segment<\/a> reported the largest percentage increase for rooms under contract (up 124.6 percent to 10,626 rooms). The upper upscale segment reported the largest percentage increase for rooms under construction (up 66.1 percent to 26,363 rooms).<\/p>\n<p><em>Image via Wikimedia Commons user\u00a0<a class=\"mw-redirect\" title=\"User:Fredlyfish4\" href=\"https:\/\/commons.wikimedia.org\/wiki\/User:Fredlyfish4\" target=\"_blank\" rel=\"noopener noreferrer\">Fredlyfish4<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nearly 4,843 hotels were currently in process in the U.S. in April, according to a recent STR report, an increase of 15 percent from a year ago. Limited service hotels account for roughly two-thirds of all hotel construction in the country. <\/p>\n","protected":false},"author":1023,"featured_media":1004177448,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,23891,21742],"tags":[35170],"class_list":["post-1004177445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-national","category-latest","tag-str"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Economy Watch: Hotel Pipeline Grows in April - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-hotel-pipeline-grows-in-april\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Hotel Pipeline Grows in April\" \/>\n<meta property=\"og:description\" content=\"Nearly 4,843 hotels were currently in process in the U.S. in April, according to a recent STR report, an increase of 15 percent from a year ago. 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