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Industry News / Industry Statistics

May 14, 2019

Lodging Market Continues Strong Performance

At the end of the first quarter of 2019, the U.S. construction pipeline in the lodging market sector included 5,647 projects totaling 687,941 rooms, up 7 percent by projects and 8 percent by rooms year-over-year, according to Lodging Econometrics.

The pipeline totals are just 236 projects, or 4 percent, short of the record high of 5,883 projects/785,547 rooms in the second quarter of 2008. Lodging Econometrics expects the record to be eclipsed later this year.

The strongest segments of the market are upscale, upper-midscale, and midscale chain scales. Two-thirds of projects in the pipeline are in the upscale and upper midscale chain scales.

There are over-building concerns in the market segment. At the end of the first quarter, supply growth exceeded demand growth in 18 of the top 25 markets, up from 12 of the top 25 markets at the end of the fourth quarter of 2018. Markets of particular concern include Houston, New York, Dallas, and Los Angeles.

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