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THE U.S. CONSTRUCTION pipeline reached a record level in the first quarter of 2024, according to Lodging Econometrics. The pipeline included 6,065 hotels with 702,990 rooms, showing a 9 percent year-over-year rise in hotels and a 7 percent increase in rooms compared to the previous year. Furthermore, each stage of the pipeline saw year-over-year growth in the first quarter. LE's Q1 2024 U.S. Hotel Construction Pipeline Trend Report showed 1,144 hotels under construction, totaling 141,336 rooms-a 9 percent rise in hotels and a 1 percent increase in rooms compared to the previous year. Hotels set to begin construction in the next 12 months total 2,259, comprising 260,968 rooms, reflecting a 10 percent increase in hotels and an 8 percent rise in rooms year over year, the report said. Both hotel and room counts in the early planning stage increased by 9 percent year over year, reaching record-high figures of 2,662 hotels and 300,686 rooms, respectively.

THE U.S. HOTEL construction pipeline increased year-over-year in September for the seventh straight month, according to STR. Investor sentiment remains positive following the Federal Reserve's September interest rate cut, as shown by continued double-digit growth in the planning and final planning stages of the pipeline. In CoStar's pipeline, 157,253 rooms were under construction in September, a 7 percent increase from last year. An additional 268,190 rooms were in final planning, up 10.4 percent, while 336,205 rooms were in planning, up 38.4 percent. "Growth in rooms in construction has accelerated over the last seven months," said Isaac Collazo, STR's vice president of analytics. "Despite higher interest rates throughout 2024, developer appetite has remained strong. With the recent rate cut in September and more on the way, investor sentiment remains positive, as evidenced by continued double-digit growth across the planning and final planning stages of the pipeline. Upscale and upper midscale continue to account for about 50 percent of all rooms in the final phase, while luxury and midscale showed the highest growth in rooms in construction, up 48.5 percent and 34.5 percent, respectively."

THE U.S. HOTEL construction pipeline grew 9 percent by both projects and rooms year-over-year, according to the latest U.S. Construction Pipeline Trend Report from Lodging Econometrics. It stood at 5,545 projects with 658,207 rooms at the close of the first quarter of 2023. Meanwhile, the hotel construction pipeline in the top 25 markets in the U.S. also registered year-over-year growth in the first quarter. Dallas had a record 184 projects with 21,810 rooms at the close of the first quarter, followed by Atlanta with 144 projects containing 18,242 rooms, Los Angeles tally stood at 118 projects with 19,066 rooms, Phoenix with 117 projects with 16,100 rooms and Nashville had 115 projects containing 15, 354 rooms, LE report revealed. In another report, LE analysts also detailed the leading franchise companies and their brands in the construction pipeline at the close of the first quarter. Marriott International tops the charts with 1,499 projects containing 181,377 rooms, followed closely by Hilton Worldwide, with a record-high count of 1,436 projects with 161,359 rooms, and then InterContinental Hotels Group (IHG) with 809 projects containing 80,679 rooms. Combined, these three franchise companies comprise 68 percent of the projects in the total U.S. pipeline, LE said.

THE U.S. HOTEL construction pipeline continued its growth at the end of the second quarter of 2022 as travel returned, according to Lodging Econometrics. The upscale and upper-midscale segments continue to lead the pipeline with 68 percent of projects. The total U.S. construction pipeline stands at 5,220 projects with 621,268 rooms during the second quarter. That is up 9 percent by projects and 4 percent by rooms, over the same period last year, according to the U.S. Construction Pipeline Trend Report from LE. There were 965 projects with 130,914 rooms currently under construction in the second quarter, down 17 percent by projects and 18 percent by rooms, year-over-year. As many as 2,009 projects with 232,163 rooms are scheduled to start in the next 12 months, up 9 percent by projects and 9 percent by rooms, over last year. According to the report, projects and rooms in early planning reached a record high at 2,246 projects with 258,191 rooms, up 26 percent by projects and 15 percent by rooms, compared to last year. "Improved demand and increased consumer sentiment and spending has led to record-high rates of travel and much improved hotel revenue over the last few months. The outlook for the industry is positive and growth is expected to continue throughout 2022, albeit at a decelerated pace than initially expected. The industry's ability to adapt to the constantly changing economic environment provides a positive outlook for hotel performance, and its eventual full recovery," the report said.

CHOICE HOTELS INTERNATIONAL reported a record $428 million in third-quarter revenue, a 1 percent increase from last year. Net income rose 15 percent to $105.7 million. As of Sept. 30, the global pipeline surpassed 110,000 rooms, an 11 percent increase from the previous year, with conversion rooms up 54 percent. Domestically, the room pipeline grew 10 percent year-over-year, with conversion rooms rising 68 percent, Choice said in a statement. "Choice Hotels generated another quarter of record financial performance, demonstrating the successful execution of our growth strategy and giving us the confidence to raise our full-year guidance," said Patrick Pacious, president and CEO. "We accelerated unit growth, expanded our global pipeline, grew our international reach, and significantly increased our rewards program. This momentum, combined with our strong business model, positions us to sustain growth while returning significant capital to shareholders."

THE U.S. PIPELINE reached a record 6,211 projects and 722,821 rooms, up 9 percent and 7 percent year-over-year, according to Lodging Econometrics' third quarter 2024 U.S. Hotel Construction Pipeline Trend Report. Dallas leads the five markets with the largest hotel construction pipelines, reaching a record 194 projects and 22,803 rooms. Approximately 1,185 projects with 148,716 rooms were under construction at the end of the third quarter, which is an 11 percent increase in projects and 6 percent in rooms year-over-year, the report said. Projects set to start construction within 12 months total 2,209 projects with 251,797 rooms. Early planning reached 2,817 projects and 322,308 rooms, both up 17 percent year-over-year. LE analysts reported that the upper-midscale chain scale leads the pipeline with 2,315 projects and 224,703 rooms, followed by upscale with 1,407 projects and 174,127 rooms. Together, these segments comprise 60 percent of all projects. The midscale segment also reached a record with 928 projects and 77,600 rooms, up 19 percent in projects and 16 percent in rooms year-over-year.

U.S. HOTEL CONSTRUCTION reached record levels in the fourth quarter of 2024, with 6,378 projects and 746,986 rooms in the pipeline, according to Lodging Econometrics' latest Hotel Construction Pipeline Trend report. This reflects 7 percent year-over-year growth in projects and an 8 percent increase in rooms. The U.S. hotel pipeline showed strong activity across all stages, LE said. Projects under construction totaled 1,149, with 142,238 rooms, a significant year-over-year increase, the report said. Furthermore, 2,259 projects with 259,108 rooms are scheduled to break ground in the next 12 months. Early planning reached a record high with 2,970 projects and 345,640 rooms, marking 15 percent growth in projects and a 19 percent rise in rooms compared to the previous year.

WYNDHAM HOTELS & RESORTS reported growth in net rooms and its development pipeline for the third quarter. Global systemwide rooms increased 4 percent year-over-year, with 1 percent growth in the U.S. and 8 percent internationally. Global RevPAR rose 1 percent in constant currency compared to 2023, with a 1 percent decline in the U.S. and 7 percent growth internationally. The company's adjusted net income for the third quarter was $110 million, a 1 percent decrease year-over-year but a 3 percent increase on a comparable basis, Wyndham said in a statement. "Our teams delivered exceptional results, executing our growth strategy and achieving 7 percent growth in comparable adjusted EBITDA, driven by system expansion, higher royalty rates, and increased ancillary revenues," said Geoff Ballotti, president/CEO. "We awarded 10 percent more franchise contracts domestically, driving 5 percent growth in our development pipeline. Stabilizing RevPAR trends and increasing infrastructure demand are expected to lead to improved results in the coming quarters. We remain focused on delivering value to our guests, franchisees, and shareholders, having returned nearly $380 million year-to-date through dividends and share repurchases."

WYNDHAM HOTELS & RESORTS is quietly bouncing back after Choice Hotels International's failed takeover bid. The company reported a net income of $86 million for the second quarter ending June 30, a 22.8 percent increase from $70 million the previous year. Wyndham's global pipeline grew 7 percent year-over-year, with a 5 percent increase in the U.S. alone. Its net income increase was driven by higher adjusted EBITDA, a benefit from the reversal of a spin-off matter and a lower effective tax rate, Wyndham said in a statement. "The resilience and highly cash generative nature of our business model was once again on full display this quarter," said Geoff Ballotti, Wyndham's president and chief executive officer. "Amid a normalizing domestic RevPAR environment, we delivered strong adjusted EBITDA driven by net room and ancillary fee growth. We awarded 33 percent more hotel contracts domestically which grew our development pipeline to a record 245,000 rooms, and drove significant increases in our U.S, international and global royalty rates. Year-to-date, we've returned over $250 million to shareholders, representing 4 percent of our beginning market capitalization this year."

U.S. HOTEL CONSTRUCTION increased slightly in December after 25 consecutive months of decline, according to STR. Projects in the later stages of development saw a reversal in their decline and luxury projects were up. There are 159,344 rooms in construction during the month, up 0.3 percent, over Dec. 2021. As many as 213,066 rooms are in the final planning state, an increase of 15 percent over last year. STR pipeline data added that 240,092 rooms are under planning, a decline of 15.6 percent. New York City, Phoenix and Dallas are set to see the largest supply percentage increases from current construction. The luxury and upscale segments would see the most supply. "While the overall pipeline continued to contract year over year, December showed strength in the later phases of development," said Alison Hoyt, STR's senior director of consulting. "Over the past year, we've seen late-stage pipeline rooms consistently decline from 2021 levels, while rooms in the planning phase often showed double-digit growth. We started to see a change in this pattern in November, when final planning rooms significantly jumped year over year and planning rooms came down pretty firmly. The same occurred in December, with the only difference being construction increasing slightly over 2021. When looking strictly at volume, the in-construction phase has been fairly stable throughout the year, remaining under 160,000 rooms and showing month-over-month increases from July through October and again in December."

HILTON WORLDWIDE HOLDINGS reported net income of $422 million for the second quarter ending June 30, up from $413 million last year. The development pipeline grew 15 percent year-over-year to 3,870 hotels with 508,300 rooms, an 8 percent increase from the previous quarter. Systemwide RevPAR rose 3.5 percent year-over-year due to higher occupancy and ADR. "We are pleased to report a solid second quarter, with an increase in RevPAR of 3.5 percent, driven by growth in all segments, with particularly strong group performance," said Christopher Nassetta, Hilton's president and CEO. "On the development side, we ended the quarter with a record development pipeline, up 15 percent from the prior year and up 8 percent sequentially from the first quarter, including strategic partner hotels. Looking forward to the rest of the year, with the continued growth of our existing brands, as well as the addition of our new brands and strategic partner hotels, we expect net unit growth of 7 percent to 7.5 percent for the full year." Adjusted EBITDA for the three months ended June 30 was $917 million, up from $811 million in 2023, Hilton said. Management and franchise fee revenues increased by 10 percent year-over-year. In the US, second-quarter occupancy rose by 1.1 percentage points to 76.8 percent, ADR increased by 1.4 percent to $172.36, and RevPAR climbed 2.9 percent to $132.33.

CHOICE HOTELS INTERNATIONAL appears to be moving on from its failed attempt to acquire Wyndham Hotels & Resorts, according to statements from its executive team during the company's first quarter earnings call May 8. The quarter saw overall positive performance for the company, including record growth in its pipeline and $63.7 million adjusted net income, a 9 percent rise over the same period of last year. The main portion of the call was dedicated to reporting the highlights of the quarter. For example, Choice's EBITDA during the quarter grew to $124.3 million, a first quarter record and a 17 percent increase compared to the same period of 2023. Its global pipeline as of March 31 increased 10 percent to a company record of more than 115,000 rooms, including a 36 percent increase in the global pipeline for conversion rooms. Its domestic rooms pipeline increased by 11 percent since Dec. 31, highlighted by a 59 percent increase for conversion rooms.

IHG HOTELS & RESORTS reported global RevPAR growth of 3 percent for 2024 and 4.6 percent in the fourth quarter, with the Americas rising 2.5 percent and 4.6 percent for the year and quarter, respectively. The company acquired Germany-based lifestyle hotel brand Ruby for about $116 million, aiming for global expansion, including the Americas. It opened 371 hotels globally in 2024, up 24 percent, and added 714 to the pipeline, a 34 percent increase, including 16,832 rooms opened and 26,552 signed in the Americas, IHG said in a statement. "Thanks to the hard work and dedication of our teams around the world, 2024 was an excellent year of financial performance, strong growth and important progress against a clear strategy that is unlocking the full potential of our business for all stakeholders," said Elie Maalouf, IHG's CEO. "RevPAR growth accelerated in the fourth quarter, reflecting the breadth of our global footprint and improvements in all three regions. Together with strong system growth, notable margin expansion and the benefit of returning surplus capital through buybacks, we're pleased to report adjusted EPS growth for the year of 15 percent."

APERTURE HOTELS AND Satori Collective have completed a multi-million-dollar renovation of Homewood Suites by Hilton Atlanta/Perimeter Centre in Atlanta. This revamped hotel will cater to extended-stay guests, the companies said in a statement. Aperture Hotels focuses on hotel management, while Satori Collective is a commercial real estate investment firm. The renovation involved improvements to the hotel's public spaces, guest rooms, fitness center, meeting facilities, and exteriors, the statement added. "With the conclusion of this comprehensive, multi-million dollar renovation, the Homewood Suites by Hilton Atlanta/Perimeter Centre has achieved 'like-new' status, effectively becoming the newest extended-stay hotel in the Atlanta Perimeter submarket," said Charles Oswald, president and CEO of Aperture Hotels. "This year continues to provide strong growth for Aperture. In addition to overseeing renovations, we have added six new properties to our portfolio of third-party managed hotels and have several more exciting properties in the immediate pipeline."

THE U.S. HOTEL construction pipeline continued to grow in the third quarter, up 7 percent year-over-year by projects and rooms, according to Lodging Econometrics. The growth was moderate, with current project count 3 percent below and rooms 14 percent below the all-time high of 5,883 projects and 785,547 rooms reached in the second quarter of 2008. There were a total of 5,704 projects and 672,676 rooms in the construction pipeline by the end of the quarter, according to LE's Construction Pipeline Trend Report for the U.S. That's up from 5,572 projects with 660,061 rooms at the end of the second quarter. There were 1,063 projects with 140,331 rooms under construction at the close of the third quarter, an increase of 8 percent by projects and 4 percent by rooms YOY. Projects scheduled to start construction in the next 12 months stand at 2,234 projects with 257,729 rooms, up 8 percent YOY by projects and 9 percent by rooms. Projects and rooms in the early planning stage each increased 7 percent to stand at 2,407 projects with 274,616 rooms, just 27 projects and 5,296 rooms shy of the all-time high.

APPROXIMATELY 6,095 PROJECTS with 713,151 rooms are in the U.S. construction pipeline at the end of the second quarter, according to Lodging Econometrics. This all-time high marks a 9 percent year-over-year increase in projects and an 8 percent increase in rooms compared to the second quarter of 2023. LE's Q2 2024 U.S. Hotel Construction Pipeline Trend Report revealed 1,171 projects with 147,611 rooms under construction at the end of the second quarter, reflecting a 10 percent increase in projects and a 4 percent increase in rooms year-over-year. LE expects that as interest rates decline, projects scheduled to start in the next 12 months will quickly move to under construction. Extended-stay brands remain popular with developers, comprising 36 percent of projects under construction, 33 percent of those starting in the next 12 months and 34 percent of projects in early planning, the report said. Sixty-four percent of these projects are in the middle tier of brands.

THE HOTEL PROPERTY types most associated with business travel, upper upscale hotels, are well represented in the U.S. hotel construction pipeline. The volume of projects in the segment points to confidence in the future of business travel, according to STR. "Upper upscale saw the slowest recovery, but a steady climb in performance and the business travel indicators have supported developer confidence in the segment," said Isaac Collazo, STR's vice president for analytics. "The more than 23,000 upper upscale rooms in construction right now represent 3.4 percent of the segment's existing supply. That is well above the long-term growth average, up 2 percent in the U.S." According to STR, a total 154,284 rooms were under construction in March, down 0.5 percent compared to the same period last year. As many as 239,995 rooms are in the final planning state, an increase of 34.6 percent over last year. STR pipeline data showed that 232,517 rooms are under planning, a decline of 21.6 percent compared to March 2022. After three consecutive month-over-month increases, the overall number of U.S. rooms in construction fell slightly in March, which aligns with patterns in previous years. Among the chain scale segments, luxury shows the highest number of rooms as a percentage of existing supply. Luxury segment reports the highest increase in hotel construction in March, up 5.2 percent containing 7,136 rooms, followed by upscale, up 4.1 percent with 36,089 rooms and upper midscale, increased 3.7 percent containing 43,470 rooms.

THE U.S. HOTEL construction pipeline showed positive trends in the third quarter of 2022 as total projects stood at 5,317 containing 629,489 rooms, according to Lodging Econometrics. That's up 10 percent by projects and 6 percent by rooms year-over-year. There are 987 projects with 135,050 rooms under construction in the U.S. at the end of the third quarter, according to the U.S. Construction Pipeline Trend Report from LE. As many as 987 projects with 135,050 rooms are under construction during the period. According to LE, 2,074 projects containing 236,894 rooms will start construction in the next 12 months, up 14 percent by projects and 13 percent by rooms year-over-year, respectively. Projects in the early planning stage reached record in the third quarter, with 2,256 projects containing 257,545 rooms, a 14 percent increase by projects and 7 percent increase in rooms when compared to same period last year.

WYNDHAM HOTELS & RESORTS released fourth quarter and full year 2023 earnings that included record-high rooms growth. Geoff Ballotti, Wyndham's president and CEO, said the strong results reinforce the company's decision to refuse Choice Hotels International's ongoing efforts to buy Wyndham out. In its earning call, Wyndham reported that system-wide rooms grew organically by 3.5 percent year-over-year, a record high. The company opened a record 66,000 organic rooms, a 3 percent year-over-year increase. Its development pipeline grew 1 percent sequentially and by 10 percent year-over-year to 240,000 rooms, another record, including 98 new contract signings for its ECHO Suites brand, a 60 percent YoY growth in that part of the pipeline. Wyndham's shareholders, who will be key to determining the success or failure of Choice's efforts to acquire the company, saw several benefits from last year's performance. Fourth quarter diluted earnings per share was 60 cents with a net income of $50 million. The company returned $515 million to shareholders for the full-year through $397 million of share repurchases and quarterly cash dividends of $0.35 per share. Its board of directors also authorized a 9 percent increase in the quarterly cash dividend to $0.38 per share beginning with the dividend expected to be declared in first quarter of 2024.

HYATT HOTELS CORP. reported strong early 2024 performance, with RevPAR and revenue growth, fueled by pipeline expansion driving its core hotel business and global franchise network. Systemwide RevPAR surged by 5.5 percent compared to 2023, while all-inclusive resorts net package RevPAR soared by 11 percent. Meanwhile, U.S. RevPAR increased by approximately 2 percent, excluding the Easter impact, indicating normalized growth. Net rooms grew by about 5.5 percent, with net income at $522 million and adjusted net income at $75 million, Hyatt said in a statement. Adjusted EBITDA stood at $252 million, dropping by 9 percent compared to Q1 2023, mainly due to the Super Bowl in Phoenix, increased real estate taxes, higher wages, and transaction costs from ongoing asset sales.