According to the year-end U.S. Construction Pipeline Trend Report(Jan 2018) from Lodging Econometrics (LE), hotel construction market in U.S. has grown by 4% Year-Over-Year (YoY). With the emergence of a new booming economy, the pace of global growth is building momentum in coming years. The fourth quarter earnings reports by established brands Marriott, Hilton, Hyatt all show strong RevPAR and corroborate with the latest hotel construction trends.
In a recent Pipeline Research Report shared by STR, there was a 14.7% increase in the hotel room construction compared to previous year. It makes a growing trend of 580,427 rooms across 4,843 hotel projects are Under Contract stage in the United States.
Russell and Dawson recently added construction services to its portfolio of services, here is a video of one of the ongoing A/E/C projects – Construction of Fairfield Inn & Suites at Williamstown, MA and expect few more projects to start in Q2, 2018. As an A/E/C (Architecture, Engineering and Construction) firm. We continue to see the following hotel construction trends driving the market.