Slower growth should help prop up hotel prices
The US hotel development pipeline includes 4,384 projects with 475,521 rooms, according to the recently released 2009 STR/TWR/Dodge Construction Pipeline Report.
This represents a 2.5-percent decrease in the number of rooms in the total active pipeline compared to July 2009 and a 27.9-percent decrease compared to August 2008. The total active pipeline data includes projects in the “In Construction, Final Planning” and “Planning” stages, but does not include those in the “Pre-Planning” stage.
"The U.S. development pipeline continues the steady slowing we’ve seen since 2007," said Duane Vinson, vice president at STR. He added:
"All regions of the US are experiencing dramatic decreases in pipeline activity. Slowing supply growth should positively impact industry fundamentals moving into 2010. Hopefully with improved economic growth, demand will firm, resulting in stronger occupancies and better average rate movement across the industry."
By David Wilkening
David
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