In the first half of the year, the U.S. hotel construction pipeline included 1,288 extended-stay projects totaling 136,649 rooms, according to Lodging Econometrics. More extended-stay hotels are expected—400 extended-stay projects with 44,738 rooms are under construction and account for 26 percent of all construction projects in the total hotel pipeline. What’s more, 643 projects/68,242 rooms will start construction in the next 12 months and an additional 245 projects/23,669 rooms are in the early planning stages.
At year-end 2017, 248 extended-stay hotels with a combined 27,431 rooms are expected to open in the U.S., compared to 224 extended-stay hotels/24,196 rooms last year. In 2018, the number of extended-stay projects is expected to increase to 329/35,705 rooms and in 2019, 365 extended-stay projects/39,087 rooms are forecast to open.
The largest extended-stay brand in the pipeline is Home2 Suites by Hilton, which currently has 343 projects/35,845 rooms in the pipeline. The second largest is Marriott’s Residence Inn with 187 projects/23,617 rooms, followed by Towneplace Suites with 184 projects/18,757 rooms.