STR: U.S. hotel pipeline rose 4.9% in January

02/18/2013 | World Property Channel

The total hotel-development pipeline in the U.S. was 4.9% higher in January compared with figures during the same month last year, with 307,289 rooms in 2,637 construction projects, the January 2013 STR Pipeline Report shows. "Upscale and upper-midscale brand dominance continues, accounting for almost 63% of rooms that have broken ground. Additionally, luxury rooms under construction are up significantly from January 2012, perhaps reflecting confidence in the industry's sustained upward momentum. We expect supply growth to continue inching forward in 2013, with full-year net growth of around 1%," said Bobby Bowers, a senior vice president at STR.

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