As seen in the Q3 2025 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), the total U.S. pipeline remained relatively unchanged year-over-year (YOY) and stood at 6,205 projects/728,416 rooms, holding steady by projects and up 1 percent by rooms YOY.
Construction Pipeline
At the close of the third quarter, there were 1,118 projects/137,620 rooms under construction. Projects scheduled to start construction in the next 12 months totaled 2,234 projects/258,973 rooms. Projects in early planning in the U.S. stood at 2,853 projects/331,823 rooms. Year-over-year, both the starts in the next 12-month stage of the construction pipeline and the early planning stage increased modestly, while the under construction stage saw a marginal decline. New project announcements for the quarter totaled 230 projects/28,951 rooms. Hotel renovations across the U.S. stood at 566 projects/123,142 rooms at the end of the quarter.
LE analysts reported that the upper-midscale chain scale continued to have the largest project count in the U.S. pipeline, with 2,279 projects/219,385 rooms. Following was the upscale chain scale with 1,383 projects/172,238 rooms. Together, these two chain scales comprised 59 percent of all projects in the total pipeline. The midscale segment stood at 947 projects/78,956 rooms, up 2 percent by both projects and rooms YOY. Combined, the top three chain scales by project count—upper midscale, upscale, and midscale—accounted for 65 percent of all projects in the total pipeline.
Extended-Stay Pipeline
Extended-stay hotel projects continued to be a significant component of the U.S. hotel construction pipeline. At the end of the third quarter, extended-stay projects totaled 2,468 projects/250,754 rooms accounting for 40 percent of all projects and 34 percent of all rooms in the total pipeline.
Middle tier extended-stay hotels represented the largest segment with 1,648 projects/154,499 rooms, up 3 percent by both projects and rooms YOY. Upper tier extended-stay hotels stood at 653 projects/77,019 rooms. Lower tier extended-stay accounted for 167 projects/19,236 rooms.
Within the extended-stay segment, 431 projects/45,542 rooms were currently under construction. Projects scheduled to start construction in the next 12 months stood at 983 projects/102,064 rooms. Extended-stay projects in the early planning stage totaled 1,054 projects/103,148 rooms.
Hotel Development Pipeline
Brand conversion activity reached record-high project totals and closed the quarter with 1,477 projects/148,035 rooms, up 18 percent by projects and 22 percent by rooms YOY. Combined, the total renovation and brand conversion pipeline in the United States stood at 2,043 projects/271,177 rooms, up 4 percent by projects and 3 percent by rooms YOY.
New Hotel Openings Forecast
Through the third quarter, 490 new hotels with 57,479 rooms opened in the United States, with another 202 projects/22,368 rooms anticipated to open by year-end 2025. LE projected 2025 to finish with 692 new hotels with 79,847 rooms and a forecasted growth rate of 1.4%. Looking ahead, LE analysts forecast 754 new hotels/83,118 rooms to open in calendar year 2026 for a 1.5 percent growth rate. For 2027, LE forecast 864 new hotels/91,571 rooms to open for a 1.6 percent growth rate.
