U.S. hotel construction reports record activity in March

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The U.S. hotel industry recorded 214,704 rooms under construction in March 2020, with the boom being led by New York with 14,051 rooms.

Hotel News Resource reports The industry’s previous construction peak occurred in December 2007 with 211,694 hotel rooms in construction. The data was recorded by STR, which provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors.

“The number of rooms in construction will likely remain high, just as it did during the pre-recession peak,” STR’s senior VP of lodging insights Jan Freitag was quoted as saying. “Because of the coronavirus pandemic, the industry is no longer operating in a record-setting demand environment, so there isn’t the same rush to open hotels and tap into that business.” 

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