U.S. hotel pipeline shows confidence in business travel
The property types most associated with business travel, are well represented in the U.S. development pipeline
Upper upscale hotels, the property types most associated with business travel, are well represented in the U.S. development pipeline. The volume of projects in the segment points to confidence in the future of business travel, according to STR.
Key takeaways
- The more than 23,000 upper upscale rooms in construction right now represent 3.4% of the segment’s existing supply. That is well above the long-term growth average (+2%) in the U.S.;
- Luxury, though the smallest in terms of room count, shows the highest projected growth against existing supply, matching the rate gains experienced in the segment over the last few years;
- Select-service (upper midscale + upscale) continues to grow as well, with the upper tier of select-service also caters to the business traveler.
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