Extended-stay hotels set for substantial growth according to US hotel construction pipeline
published on : 12 Sep 2017
Through the first half of the year, there are 1,288 projects/136,649 rooms of extended-stay projects in the US hotel construction pipeline according to Lodging Econometrics (LE). 400 projects/44,738 rooms are under construction, and account for 26 per cent of all projects under construction in the total pipeline.
643 projects/68,242 rooms will start construction in the next 12 months while an additional 245 projects/23,669 rooms are in early planning.
Home2 Suites by Hilton currently has 343 projects/35,845 rooms of extended-stay projects in the pipeline, the largest of any brand. The second largest brand pipeline for extended-stay is Marriott’s Residence Inn with 187 projects/23,617 rooms, followed by Towneplace Suites with 184 projects/18,757 rooms.
In 2016, 224 hotels/24,196 rooms opened for extended-stay in the US. At year-end 2017, 248 projects/27,431 rooms are expected to open. In 2018, 329 projects/35,705 rooms and in 2019, 365 projects/39,087 rooms are forecast to open.