The latest update from STR shows that the U.S. hotel industry recorded 214,704 rooms under construction in March 2020, the highest end-of-month total ever reported by STR.
The industry’s previous construction peak occurred in December 2007 with 211,694 hotel rooms in construction. That level was slightly surpassed in February 2020 at 211,859 rooms in the final phase of the development pipeline.
“The number of rooms in construction will likely remain high, just as it did during the prerecession peak,” said Jan Freitag, STR’s senior VP of lodging insights.
