Hotels and Travel

Construction of new US hotels sets new record

Hotels in the US set new records with the construction of 5,011 new hotels adding almost 655,000 bedrooms in 2006.  The third quarter of 2006 was the fifth consecutive record-setting quarter.

"Guestroom counts in the pipeline are 31% higher than the last peak in 1999," said Patrick Ford, President of Lodging Econometrics. He added "However, the project count is an astonishing 47% greater."

The new properties are catering to the changing needs of corporate and leisure travellers are quickly being adopted by property developers.

Mr Ford also said that the much-discussed credit crisis has not yet significantly affected those hotels already planned nor has it impacted developers.