• US pipeline down 20.9%

The US hotel development pipeline was down 20.9% on the year in December, according to STR.

The pipeline comprises some 3,049 projects totaling 317,343 rooms, with New York City leading with the highest percentage increase in new supply. Lana Yoshii, VP of content management at STR, said: "Overall, hotel construction activity has moderated considerably, which is a promising sign for hotel operators still working to induce demand after these difficult economic times."

See the full release here:
http://www.str.com/

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