June U.S. Hotel Development Pipeline Drops 24.5 Percent Year Over Year

The U.S. hotel development pipeline for June has decreased 4.1 percent from May and 24.5 percent year over year, according to the most recent STR/TWR/Dodge Construction Pipeline Report. The only region that experienced growth was West South Central, which increased 3 percent. The other eight U.S. regions all witnessed double-digit declines year over year in the amount of under-construction rooms. New England experienced the sharpest drop at 47.8 percent.

"With nearly 56,000 fewer rooms in construction now than a year ago, the front end of the pipeline continues to draw down rapidly," Duane Vinson, vice president of content management at Smith Travel Research, said in a statement.

For a breakout of regional pipeline, click here.

Source: Hospitality Design Magazine