Extended-Stay Hotels Account for 27% of All Projects Under Construction
February 2, 2018 10:42am
February 2, 2018 – PORTSMOUTH, NH – According to recent reports from Lodging Econometrics (LE), 1,370 Projects/143,344 Rooms in the U.S. Construction Pipeline are extended-stay projects. Of these, 424 Projects/46,551 Rooms are Under Construction, accounting for 27% of all projects Under Construction in the Total Pipeline. Additionally, 605 Projects/64,121Rooms are Scheduled to Start Construction in the Next 12 Months while an additional 341 Projects/32,672 Rooms are in Early Planning.
Home2 Suites by Hilton currently has the largest Extended-Stay Pipeline with 355 Projects/37,188 Rooms. The second largest brand is Marriott's Towneplace Suites with 208 Projects/21,299 Rooms, followed by its Residence Inn brand with 199 Projects/24,680 Rooms.
In 2017, 239 extended-stay hotels with 26,586 rooms opened in the U.S. By the end of 2018, 332 Projects/35,167 Rooms are expected to open in the U.S., with another 332 Projects/35,829 Rooms in 2019.
Tags: lodging econometrics,
u.s. construction pipeline,
Lodging Econometrics (LE) is the lodging industry’s leading consulting partner for global real estate intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable insights that turn their clients’ business goals into timely opportunities.
Contact: Emily Dennison
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