The U.S. hotel construction pipeline reached an all-time high, according to Lodging Econometrics data.

The number of projects and rooms in the pipeline both hit record highs at the end of Q2. The U.S. pipeline had 6,095 projects (up 9% year over year) and 713,151 rooms (up 8% year over year).


There are 1,171 projects, and 147,611 rooms are currently under construction — a 10% increase in projects and a 4% increase in rooms YOY. There are 2,350 projects with 268,378 rooms expected to break ground in the next 12 months, a 5% YOY increase in projects and a 3% YOY rise in rooms. In addition, there was significant growth in projects in the early planning stages, with 2,574 projects (13% increase YOY) and 297,162 rooms (15% increase YOY).

LE analysts project that as interest rates decline, projects scheduled to begin within the next 12 months will transition to the under-construction stage rapidly.

Renovations and conversions continue to be hot in the U.S., with 2,007 projects (up 4% year over year) and 262,178 rooms (up 3% year over year).

In the first half of 2024, 250 new hotels with 29,777 rooms opened across the U.S., and LE forecasts an additional 400 projects with 44,451 rooms to open by the end of 2024, for a total of 650 new hotels with 74,228 rooms. That final total would represent a 35% increase in new hotel openings compared to the 480 hotels (60,922 rooms) that opened in 2023.

Analysts are projecting the opening of 779 new hotels and 87,405 rooms in 2025. LE also debuted its 2026 projections with 928 projects and 101,796 rooms, representing a 1.8% increase in new supply.