U.S. Shows Increase in Hotel Pipeline Activity
Skift Take
The Americas is the only region to show an increase in hotel construction and development activity in the first quarter of 2024, contrasting with declines or slower growth in Europe, Asia Pacific, and the Middle East and Africa.
The DJIA was up 64 points while Nasdaq was down 20, the S&P rose 10 points and the 10 year treasury yield was up another .03 to 4.66%. Lodging stocks were lower. SOND was the only mover of note, down -10%. SOHO traded down to another new low.
The Americas is the only world region showing a year-over-year increase in pipeline activity at the end of the first quarter, according to March 2024 data from CoStar. March 2024 (% change in comparison with March 2023): Europe: In construction: 172,499 rooms (-6.8%) Final planning: 99,744 rooms (-25.3%) Planning: 160,404 rooms (+3.1%) Total under contract: 432,47 room (-8.8%). Among countries in the region, Germany (28,500) led in construction activity, closely followed by the U.K. (28,423). Asia Pacific: In construction: 502,610 rooms (+5.6%) Final planning: 109,926 rooms (+5.6%) Planning: 289,041 (-11.0%) Total under contract: 901,577 rooms (-0.4%). China leads the AP region in total rooms in construction (315,145), followed b
