US construction activity highest since February 2023

NATIONAL REPORT - The number of rooms in construction has grown year-over-year for four consecutive months, according to STR Vice President of Analytics Isaac Collazo.

“While upscale and upper midscale continue to dominate, accounting for about 50% of all rooms in the final phase of the pipeline, the pace of activity in these segments has slowed compared to last year,” he said. “Midscale and economy have shown the most growth, up 42% and 34%, respectively, with newer brands and extended-stay accounting for most of the new construction across the midscale segment.”