LE: U.S. HOTEL CONSTRUCTION PIPELINE RISES IN ALL PROJECT STAGES YOY

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.