U.S. reported 188,734 rooms in 1,436 hotel projects in construction
The total represents an 11.7% increase in the number of rooms Under Contract compared with July 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 188,734 rooms in 1,436 projects. Based on the number of rooms, that is a 10.2% increase in year-over-year comparisons and a 1.0% lift from the previous month.
Among the Top 26 Markets, New York, New York, reported the most rooms Under Contract (26,990 rooms) and most rooms In Construction (14,714 rooms).
Four additional markets each reported more than 15,000 rooms Under Contract for the month: Dallas, Texas (20,851 rooms); Houston, Texas (17,355 rooms); Los Angeles/Long Beach, California (15,107 rooms); and Orlando, Florida (15,053 rooms).
After New York, four other markets reported more than 5,000 rooms In Construction: Dallas (6,923 rooms); Houston (5,247 rooms); Nashville, Tennessee (5,164 rooms); and Los Angeles/Long Beach (5,029 rooms). ■