According to recent reports from Lodging Econometrics (LE), there are 1,295 extended-stay projects/136,945 rooms in the U.S. hotel construction pipeline. Currently, 438 projects/48,903 rooms are under construction, accounting for 28 percent of all projects under construction in the total pipeline. Projects scheduled to start construction in the next 12 months total 609 projects/64,359 rooms, while an additional 248 projects/23,683 rooms are in early planning stages.
Home2 Suites by Hilton currently has the largest extended-stay pipeline with 348 projects/36,439 rooms. The second largest brand is Marriott’s Residence Inn with 189 projects/23,605 rooms, followed by Towneplace Suites with 183 projects/18,590 rooms.
In 2016, 224 extended-stay hotels and 24,196 extended-stay rooms opened. At the end of 2017, 241 extended-stay projects/26,640 rooms are expected to open. In 2018, that’s expected to jump to 322 projects/34,696 rooms and in 2019, 340 projects/37,043 rooms are forecasted.