The overall variety of U.S. resort rooms underneath building in December 2021 was down roughly 61,000 from the nation’s all-time excessive, achieved in early 2020, in keeping with STR.
Initiatives within the ultimate planning phases are also down by 20.6 p.c 12 months over 12 months, because the pandemic continues to dampen trade confidence, STR famous. However one signal factors to ramping restoration this 12 months: 284,502 rooms within the U.S. are within the planning phases, a 38.9 p.c improve over one 12 months prior.
Of the 158,906 rooms presently underneath building, New York Metropolis holds nearly 10 p.c, with 15,069 rooms. Las Vegas, Atlanta, Dallas, Nashville, and Los Angeles all are neck and neck, with building inventories starting from 5,368 to 4,620 rooms.
Worldwide Markets Blended
Except for the Asia-Pacific area, resort building compared with December 2020 figures, is down worldwide.
Asia-Pacific presently has 473,983 rooms in building, up 5 p.c 12 months over 12 months, of which 61 p.c are in China. There are an extra 297,687 rooms (up 16.3 p.c) in planning, and 941,880 rooms underneath contract.
However in Europe, the year-over-year change of all phases of resort improvement—building, ultimate planning, planning, and underneath contract—are within the pink, albeit in single digits. The identical is true within the Center East and Africa, apart from ultimate planning, which declined by 14.3 p.c.
The Americas are taking one other tack: Whereas precise building and ultimate planning are down by double digit percentages 12 months over 12 months, planning is up 39 p.c.
Many of the improvement is predicted within the U.S., the place the overall rooms underneath contract are 628,639, or 83 p.c of all Americas’ stock.