In the first quarter of 2017, there were 513 projects with 57,127 rooms newly announced into the hotel construction pipeline, according to analysts at Lodging Econometrics.
So far in the first quarter, 212 hotels with 24,122 rooms opened in the United States. The majority of these opens, 93 hotels with 10,018 rooms, were in suburban locations. Almost half of the opens, 100 hotels with 12,856 rooms, were hotel properties with between 100 and 200 rooms. Seventy-nine of these hotels and 10,544 of the rooms, or 37 percent, were in a top 25 market.
For the remainder of the year, LE forecasts another 868 projects with 97,386 rooms to open for a total of 1,080 hotels and 121,508 rooms in 2017, a 22-percent increase over the total number of openings last year. In 2018, LE forecasts an additional 1,283 hotels with 143,038 rooms will open in the U.S.