STR: U.S. leads world in hotel openings as construction activity declines
HENDERSONVILLE, Tennessee—The U.S. led the world in new hotel and room openings during Q1 2021, according to global pipeline data from STR’s AM:PM platform. At the same time, the country’s construction activity continues to decline in comparison with pre-pandemic levels.
Over the three-month period, the U.S. opened 220 properties accounting for 26,057 rooms. Four additional countries opened more than 2,000 rooms during the same period.
1. U.S. (26,057 rooms)
2. China (12,418 rooms)
3. Japan (2,499 rooms)
4. Australia (2,382 rooms)
5. United Kingdom (2,214 rooms)
The number of rooms currently in construction in the U.S. is down almost 34,000 from the country’s all-time construction peak (220,207 rooms in April 2020).
- In construction: 186,269 rooms
- Planning: 237,703 rooms
- Final Planning: 214,287 rooms
Among key U.S. markets, New York (21,055) and Las Vegas (8,579) lead in room construction. Two other markets have 5,000 rooms in that final phase of the pipeline.
1. New York City (21,055 rooms)
2. Las Vegas (8,579 rooms)
3. Los Angeles (6,395 rooms)
4. Atlanta (5,407 rooms)
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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