The total US construction pipeline continued to expand at the end of the first quarter of 2019, up a 7 percent by projects and 8 percent by rooms year-over-year, according to the latest analysis at Lodging Econometrics. Pipeline totals are only 236 projects, or 4 percent, shy of the all-time high with 687,941 rooms in 5,647 projects. Conversions and renovations are already at record levels.
The upscale, upper-midscale and midscale chain scales all reached record-highs for both projects and rooms, with two-thirds (66 percent) of projects in the total pipeline concentrated in upscale and upper midscale. LE forecasts a 2.2 percent supply growth rate in 2019 with 1,038 new hotels expected to open and another 1,174 new hotel openings projected for 2020.