New all-time highs in hotel construction and investment planning in the United States are set by Lodging Econometrics (LE’s) latest Hotel Construction Pipeline Trend report for the fourth quarter of 2024.
The total volume of new hotels under construction and in the pipeline is 6,378 hotels, with a capacity of 746,986 rooms, representing a 7% annual increase in hotel buildings and 8% in rooms.
Hotel investments in the US are showing strong growth across all stages. Hotels under construction range from 1,149 to 142,238 rooms. Looking ahead, there are 2,259 developments with a total capacity of 259,108 rooms scheduled to start anytime between now and the next 12 months.
The most impressive growth is seen in the early planning stage, which has reached an unprecedented 2,970 hotels, with a total capacity of 345,640 rooms. This represents significant year-on-year growth, with hotel facilities increasing by 15% and the number of rooms increasing by 19% year-on-year.
Investments in the upper mid-range dominate
In terms of hotel investments, investments in the upper mid-range are dominant, with 2,354 projects in this category, with 227,845 rooms. Luxury hotels follow with 1,471 projects and 182,474 rooms. The mid-range hotel segment achieved a new record with 957 projects and 80,436 rooms, while the upper scale of investment reached a record 338 projects in Q4 2024.
Rebranding also maintained strong momentum through the end of Q4 2024, reaching a record high of 1,336 projects with 128,736 rooms at the close of Q4.
Renovation investments declined slightly in Q4, involving 661 hotel properties with 127,080 rooms. Together, renovation and rebranding projects represent a significant portion of hotel development activity, totaling 1,997 projects with 255,816 rooms.
New hotels opening in the US in 2024 will total 583 with 67,995 rooms, increasing the country’s hotel supply by 1.2%.
Lodging Econometrics predicts even greater growth in the future, with 730 new hotels and 82,538 rooms expected to open in 2025, increasing hotel capacity in the US by 1.5%. Growth is expected to accelerate further in 2026, with 904 new hotels and 97,328 rooms scheduled to open, increasing supply by 1.7%.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
