The US development pipeline was down by 16.1% on the year in January, according to STR.
The total active US hotel development pipeline comprised 2,997 projects, representing 317,157 rooms. "Development activity has been slowing down as new development dollars have been challenging to obtain. The best illustration of this is the 40% reduction of rooms under construction this January compared to January 2010," said Lana Yoshii, VP of content management at STR.
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