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Profiling the Development Pipeline: High Interest Rates and Labor Costs Continue to Impact Construction Activity
According to CoStar, there were 1,264 properties with a combined total of 151,129 guestrooms under construction in the United States as of November 2024, which represents approximately 2.6 percent of the existing inventory of U.S. hotel rooms. For perspective, the average monthly ratio of rooms under construction to total inventory since 2019 is 2.9 percent. Further, the 151,129 rooms under construction is the lowest figure since August 2022, which marked the end of the build-out […] The post Profiling the Development Pipeline: High Interest Rates and Labor Costs Continue to Impact Construction Activity appeared first on LODGING Magazine.
According to CoStar, there were 1,264 properties with a combined total of 151,129 guestrooms under construction in the United States as of November 2024, which represents approximately 2.6 percent of the existing inventory of U.S. hotel rooms. For perspective, the average monthly ratio of rooms under construction to total inventory since 2019 is 2.9 percent. Further, the 151,129 rooms under construction is the lowest figure since August 2022, which marked the end of the build-out […]
The post Profiling the Development Pipeline: High Interest Rates and Labor Costs Continue to Impact Construction Activity appeared first on LODGING Magazine.
