U.S. reported 183,187 rooms in 1,407 hotel projects in construction
The total represents a 5.4% increase in the number of rooms Under Contract compared with October 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Unconfirmed stage.
In the In Construction stage, the U.S. reported 183,187 rooms in 1,407 projects. Based on the number of rooms, that is a 0.1% decrease in year-over-year comparisons.
Among the Top 26 Markets, New York, New York, reported the most rooms Under Contract (24,858 rooms) and most rooms In Construction (12,702 rooms).
Three additional markets each reported more than 15,000 rooms Under Contract for the month: Dallas, Texas (18,712 rooms); Orlando, Florida (16,210 rooms); and Houston, Texas (15,979 rooms).
After New York, three other markets reported more than 5,000 rooms In Construction: Dallas (6,685 rooms); Nashville, Tennessee (5,472 rooms); and Las Vegas, Nevada (5,125 rooms). ■