Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.
THE U.S. HOTEL construction pipeline grew 9 percent by both projects and rooms year-over-year, according to the latest U.S. Construction Pipeline Trend Report from Lodging Econometrics. It stood at 5,545 projects with 658,207 rooms at the close of the first quarter of 2023.
Meanwhile, the hotel construction pipeline in the top 25 markets in the U.S. also registered year-over-year growth in the first quarter. Dallas had a record 184 projects with 21,810 rooms at the close of the first quarter, followed by Atlanta with 144 projects containing 18,242 rooms, Los Angeles tally stood at 118 projects with 19,066 rooms, Phoenix with 117 projects with 16,100 rooms and Nashville had 115 projects containing 15, 354 rooms, LE report revealed.
In another report, LE analysts also detailed the leading franchise companies and their brands in the construction pipeline at the close of the first quarter. Marriott International tops the charts with 1,499 projects containing 181,377 rooms, followed closely by Hilton Worldwide, with a record-high count of 1,436 projects with 161,359 rooms, and then InterContinental Hotels Group (IHG) with 809 projects containing 80,679 rooms. Combined, these three franchise companies comprise 68 percent of the projects in the total U.S. pipeline, LE said.
Total projects tally
Project totals for the first quarter are just 338 projects, or 5.7 percent, behind the all-time high of 5,883 projects recorded in the second quarter of 2008, LE said in the report. At the close of the first quarter, projects currently under construction stand at 1,051 projects with 140,365 rooms, each showing 9 percent growth YOY.
Projects scheduled to start construction in the next 12 months are at 2,060 projects with 241,568 rooms, each up 8 percent YOY. Projects in the early planning stage account for 44 percent of the projects in the total U.S. construction pipeline in the first quarter. Early planning projects increased 10 percent YOY, setting an all-time high of 2,434 projects with 276,274 rooms.
Boon for growth
According to the report, this is the fourth consecutive quarter of total pipeline growth for the U.S., which can be, in part, attributed to the robust recovery of travel demand.
“Increased consumer confidence and spending activity has fueled strong occupancy and rate growth throughout the last 12 months as well,” LE analysts said. “Developers are motivated to sign new projects anticipating more favorable financing conditions in the coming quarters. Owners are eager to wrap up existing brand conversion and renovation projects, which have been a substantial focus for many quarters now.”
LE analysts said the U.S. hotel construction pipeline is expected to grow modestly or just incrementally through 2023. “There are no growth spikes expected this year. The pipeline is back loaded, meaning there is ample opportunity for vendors/suppliers in the industry, and third party management companies,” the report further added.
At the first quarter close, 62 percent of projects in the total pipeline are concentrated within the upscale and upper-midscale chain scales, the analysts said. “These two chain scales continue to dominate the pipeline and that is not expected to change anytime soon.”
STR’s recent U.S. hotel construction data also projected confidence in the future of business travel. STR said the hotel property types most associated with business travel, upper upscale hotels, are well represented in the U.S. hotel construction pipeline.
Renovation boom
According to LE, renovation and brand conversion activity in the U.S. continues to boom in early 2023, reaching record project counts of 1,953 hotels/253,533 rooms, for a 38 percent YOY increase by projects and a 37 percent YOY increase by rooms.
LE expects renovation and conversion activity to continue into 2023 as owners spend to bring their hotels into alignment with current brand standards or look elsewhere for new brand identification.
A total of 103 new hotels with 11,762 rooms opened in the U.S. in the first quarter. For the remainder of the year, LE forecasts another 493 new hotel projects with 59,355 rooms to open, representing a combined 1.3 percent supply growth rate in 2023.
LE analysts expect the upward growth in new hotel openings to continue with an additional 699 new hotel projects with 81,574 rooms anticipated to open in 2024, for a 1.4 percent supply increase.
Key markets
According to LE, markets with the greatest number of projects already under construction are New York with 54 projects containing 8,682 rooms, Atlanta with 26 projects with 4,278 rooms, and the Inland Empire with 26 projects with 2,584 rooms.
Dallas has 25 projects containing 3,739 rooms, while Phoenix has 24 projects with 5,155 rooms projects presently under construction, LE report said. “Dallas has the most projects scheduled to start in the next 12 months with 70 projects containing 8,076 rooms, followed by Atlanta with 61 projects with 7,464 rooms, Los Angeles with 45 projects with 6,894 rooms, Phoenix with 45 projects with 5,472 rooms, and then the Inland Empire with 41 projects having 4,173 rooms.”
Nationally, early planning projects and room counts hit a new all-time high in the first quarter with 2,434 projects containing 276,274 rooms. Year-over-year, the Top 25 markets in the U.S., as a group, have seen a 10 percent growth in early planning projects, LE report added.
The markets with the most projects in early planning at the close of the first quarter are again led by Dallas with 89 projects with 9,995 rooms, followed by Nashville with 59 projects containing 7,182 rooms, Atlanta with 57 projects with 6,500 rooms, Los Angeles with 56 projects with 9,433 rooms, and Phoenix with 48 projects containing 5,473 rooms.
Meanwhile, the markets with the largest count of combined renovation and conversion projects are Atlanta with 41 projects containing 4,427 rooms, Houston with 38 projects with 3,969 rooms, Chicago with 34 projects having 4,572 rooms, Dallas with 31 projects with 3,807 rooms, then San Diego with 28 projects containing 4,238 rooms, LE said.
New launches rise
According to the report, new project announcements have been slow to return to pre-pandemic project counts. However, construction starts in the total U.S. pipeline rose 20 percent by projects and 30 percent by rooms year-over-year
In the first quarter, Nashville has the highest number of new projects announced into the pipeline with 14 projects with 1,847 rooms. Dallas follows with 11 projects with 1,576 rooms, then Atlanta with 10 projects containing 1,146 rooms, Austin with 9 projects with 1,201 rooms, and Phoenix with nine projects containing 885 rooms.
LE is forecasting the top 50 markets to open 319 new hotels with 42,743 rooms in 2023. LE analysts anticipate that new hotel openings will continue to rise within the top 50 U.S. markets, forecasting 327 new hotels containing 43,525 rooms to open through 2024.
In the 2023 forecast, LE analysts expect New York to lead with the highest number of new hotels to open with 43 accounting for 7,219 rooms, followed by Dallas with 14 new hotel projects with 2,268 rooms, and the Inland Empire with 14 new hotels containing 1,377 rooms.
For 2024, LE analysts forecast the Inland Empire to open the most new hotels, with 22 new hotel projects containing 2,191 rooms expected to open. Further, Atlanta is forecasted to open 21 new hotel projects with 3,356 rooms in 2024, then Dallas with 18 new hotel projects containing 1,973 rooms.
Marriot leads
Marriott International has the most projects and room counts in each stage of the pipeline at Q1, with 279 projects containing 38,156 rooms currently under construction, 763 projects with 90,038 rooms scheduled to start construction in the next 12 months, and 457 projects with 53,183 rooms are in early planning stage, LE said in its report.
The leading brands by project count for the three companies with the largest pipelines in the U.S. at Q1 are Home2 Suites by Hilton Worldwide with all-time highs by projects and rooms of 546 projects containing 56,001 rooms, Marriott’s TownePlace Suites, also reaching all-time highs by projects and rooms at Q1, with 333 projects with 31,068 rooms, and IHG’s Holiday Inn Express brand with 301 projects containing 28,371 rooms. These three brands collectively represent 21 percent of the projects in the total U.S. hotel construction pipeline at the close of first quarter, LE report added.
LE recorded record-high conversion pipeline totals of 1,079 projects with 110,084 rooms for the U.S. in the first quarter of 2023. Of these conversion totals, Hilton had the most conversion projects and room totals ever recorded by LE with 105 projects containing 14,456 rooms, similarly, Marriott had a record 100 conversion projects, accounting for 13,465 rooms, and IHG had 52 conversion projects with 6,2543 rooms. These three franchise companies account for 31 percent of all the rooms in the conversion pipeline across the country.
According to LE, the franchise companies with the greatest number of new project announcements in the first quarter were: Hilton with 110 projects containing 11,790 rooms, Marriott with 61 projects with 6,730 rooms, and IHG with 33 projects containing 3,103 rooms. These companies represent 60 percent of all new projects announced in the U.S. in Q1 2023.
In the first quarter of 2023, Marriott opened 33 new hotels with 3,711 rooms. Hilton opened 24 new hotels with 2,781 rooms, and IHG opened six new hotels with 629 rooms. The LE forecast for new hotel openings in 2023 anticipates that Marriott will open a total of 152 new hotel projects with 19,064 rooms by year-end, Hilton is forecasted to open 141 new hotel projects with 16,980 rooms in 2023, and IHG is expected to open 88 new hotel projects with 9,975 rooms. These three franchise companies collectively account for 64 and 65 percent, respectively, of new hotel projects and rooms forecast to open in 2023, LE added.
The Trump administration says it is reviewing more than 55 million visa holders.
Reviews cover a wide range of visas for law enforcement and overstay violations.
The administration also suspended worker visas for foreign commercial truck drivers.
THE TRUMP ADMINISTRATION is reviewing more than 55 million people who hold valid U.S. visas for potential violations. It is expanding a policy of “continuous vetting” that could result in revocation and deportation.
The State Department confirmed all visa holders are subject to ongoing review, which includes checking for overstays, criminal activity, threats to public safety or ties to terrorism. Should violations be found, visas may be revoked, and holders in the U.S. could face deportation, according to the Associated Press.
Officials said the reviews will include monitoring of visa holders’ social media accounts, law enforcement records and immigration files. New rules also require applicants to disable privacy settings on phones and apps during interviews. The department noted visa revocations since President Trump’s return to office have more than doubled compared to the previous year, including nearly four times as many student visas.
The administration also announced an immediate halt on issuing worker visas for foreign commercial truck drivers, with Secretary of State Marco Rubio citing road safety and competition concerns for U.S. truckers.
“The increasing number of foreign drivers operating large tractor-trailer trucks on U.S. roads is endangering American lives and undercutting the livelihoods of American truckers,” Rubio posted on X.
The Transportation Department linked the move to recent enforcement of English-language proficiency requirements for truckers, aimed at improving safety. The State Department later said it was pausing visa processing while it reviewed screening protocols.
Critics, including Edward Alden of the Council on Foreign Relations, warned the actions could have significant economic consequences.
“The goal here is not to target specific classes of workers, but to send the message to American employers that they are at risk if they are employing foreign workers,” Alden wrote, according to AP.
Data from the Department of Homeland Security shows there are 12.8 million green card holders and 3.6 million temporary visa holders in the United States. The 55 million figure under review includes many outside the U.S. with valid multiple-entry tourist visas.
Earlier this week, the State Department reported revoking more than 6,000 student visas for violations since Trump returned to office, including around 200 to 300 for terrorism-related issues.
The vast majority of foreign visitors require visas to enter the U.S., with exceptions granted to citizens of 40 countries under the Visa Waiver Program, primarily in Europe and Asia. Citizens of China, India, Russia and most of Africa remain subject to visa requirements.
A $250 Visa Integrity Fee in President Donald Trump’s Big Beautiful Bill drew criticism from groups that rely on seasonal workers from Latin America and Asia on J-1 and other visas.
By clicking the 'Subscribe’, you agree to receive our newsletter, marketing communications and industry
partners/sponsors sharing promotional product information via email and print communication from Asian Media
Group USA Inc. and subsidiaries. You have the right to withdraw your consent at any time by clicking the
unsubscribe link in our emails. We will use your email address to personalize our communications and send you
relevant offers. Your data will be stored up to 30 days after unsubscribing.
Contact us at data@amg.biz to see how we manage and store your data.
Peachtree Group originated a $176.5 million retroactive CPACE loan for a Las Vegas property.
The deal closed in under 60 days and ranks among the largest CPACE financings in the U.S.
The company promotes retroactive CPACE funding for commercial real estate development.
PEACHTREE GROUP ORIGINATED a $176.5 million retroactive Commercial Property Assessed Clean Energy loan for Dreamscape Cos.’s Rio Hotel & Casino in Las Vegas. The deal, completed in under 60 days, is its largest credit transaction and one of the largest CPACE financings in the U.S.
The 2,520-room Rio, now under the Destinations by Hyatt brand, was renovated in 2024 and comprises two hotel towers connected by a casino, restaurants and retail, Peachtree said in a statement.
“This transaction is a milestone for Peachtree Group and a testament to the ecosystem we have built over the past 18 years,” said Greg Friedman, Peachtree's managing principal and CEO. “Through our vertically integrated platform, deep expertise and disciplined approach, we have developed the infrastructure to be a leader in private credit. Our ability to deliver speed, creativity and certainty of execution positions us to provide capital solutions that create value for our investors and partners across market cycles.”
Atlanta-based Peachtree is led by Friedman; Jatin Desai as managing principal and CFO and Mitul Patel as principal.
The CPACE loan retroactively funded the renovations, allowing the owners to pay down their senior loan, the statement said. The property improvement plan included exterior work, upgrades to the central heating and cooling plant, electrical infrastructure improvements and convention center renovations.
Jared Schlosser, Peachtree’s head of originations and CPACE, said the deal marks an inflection point, with major financial institutions consenting to its use for the benefit of the capital stack.
“By closing quickly on a marquee hospitality asset, we were able to strengthen the position of both the owner and its lenders,” he said.
The CPACE market has surpassed $10 billion in U.S. originations in just over a decade, according to the C-PACE Alliance, with growth expected as more institutional owners and lenders adopt it.
“We see significant opportunity for retroactive CPACE and its use in funding new commercial real estate development,” Schlosser said. “It is an alternative to more expensive forms of capital.”
In June, Peachtree named Schlosser head of originations for all real estate and hotel lending and leader of its CPACE program. Peachtree recently launched a $250 million fund to invest in hotel and commercial real estate assets mispriced by capital market illiquidity.
Global pipeline hit a record 15,871 projects with 2.4 million rooms in Q2.
The U.S. leads with 6,280 projects; Dallas tops cities with 199.
Nearly 2,900 hotels are expected to open worldwide by the end of 2025.
THE GLOBAL HOTEL pipeline reached 15,871 projects, up 3 percent year-over-year, and 2,436,225 rooms, up 2 percent, according to Lodging Econometrics. Most were upper midscale and upscale, LE reported.
The U.S. leads with 6,280 projects and 737,036 rooms, 40 percent of the global total. Dallas leads cities with 199 projects and 24,497 rooms, the highest on record.
LE’s Q2 2025 Hotel Construction Pipeline Trend Report showed 6,257 projects with 1,086,245 rooms under construction worldwide, unchanged in project count and down 3 percent in rooms from last year. Projects scheduled to start in the next 12 months totaled 3,870 with 551,188 rooms, down 3 percent in projects but up 1 percent in rooms. Early planning reached 5,744 projects and 798,792 rooms, up 10 percent in projects and 9 percent in rooms year-over-year.
Upper midscale and upscale hotels accounted for 52 percent of the global pipeline, LE said. Upper midscale stood at 4,463 projects and 567,396 rooms, while upscale reached 3,852 projects and 655,674 rooms. Upper upscale totaled 1,807 projects and 385,396 rooms, and luxury totaled 1,267 projects and 245,665 rooms, up 11 percent year-over-year.
In the first half of 2025, 970 hotels with 138,168 rooms opened worldwide. Another 1,884 hotels with 280,079 rooms are scheduled to open before year-end, for a 2025 total of 2,854 hotels and 418,247 rooms. LE projects 2,531 hotels with 382,942 rooms to open in 2026 and 2,554 hotels with 382,282 rooms to open globally in 2027, the first time a forecast has been issued for that year.
HAMA is accepting submissions for its 20th annual student case competition.
The cases reflect a scenario HAMA members faced as owner representatives.
Teams must submit a financial analysis, solution and executive summary.
THE HOSPITALITY ASSET Managers Association is accepting submissions for the 20th Annual HAMA Student Case Competition, in which more than 60 students analyze a management company change scenario and provide recommendations. HAMA, HotStats and Lodging Analytics Research & Consulting are providing the case, based on a scenario HAMA members faced as owner representatives.
Student teams must prepare a financial analysis, a recommended solution and an executive summary for board review, HAMA said in a statement.
“Each year, the education committee looks forward to the solutions that the next generation of hotel asset managers bring, applying their own experiences to issues in ways that reveal new directions,” said Adam Tegge, HAMA Education Committee chair. “This competition demonstrates that the future of hotel asset management is in good hands.”
The two winning teams will each receive a $5,000 prize and an invitation to the spring 2026 HAMA conference in Washington, D.C. HAMA will cover travel and lodging.
Twenty industry executives on the HAMA education committee will evaluate submissions based on presentation quality, the statement said. HAMA mentors volunteer from September through November to assist teams seeking feedback and additional information. Schools will select finalists by Jan. 15, with graduate and undergraduate teams reviewed separately.
The competition has addressed topics in operating and owning hospitality assets and HAMA consulted university professors to update the format for situations students may encounter after graduation, the statement said.
This year’s participants include University of Denver, University of Texas Rio Grande Valley, Boston University, Florida International University, Michigan State University, Columbia University, Morgan State University, Howard University, New York University and Penn State University.
Stonebridge Cos. added the Statler Dallas, Curio Collection by Hilton, to its managed portfolio.
The hotel, opened in 1956 and relaunched in 2017, is owned by Centurion American Development Group.
The property is near Main Street Garden Park, the Arts District and the Dallas World Aquarium.
STONEBRIDGE COS. HAS contracted to manage the Statler Dallas, Curio Collection by Hilton in Dallas to its managed portfolio. The hotel, opened in 1956 and relaunched in 2017, is owned by Centurion American Development Group, led by Mehrdad Moayedi.
It has an outdoor pool and more than 26,000 square feet of meeting space, Stonebridge said in a statement. The downtown Dallas property is near Main Street Garden Park, the Arts District, the Kay Bailey Hutchison Convention Center, Deep Ellum, Klyde Warren Park, and the Dallas World Aquarium.
“The Statler is an extraordinary asset with a storied history in Dallas, and we are thrilled to welcome it to our managed portfolio,” said Rob Smith, Stonebridge’s president and CEO. “Its blend of modern hospitality with timeless character makes it a natural fit within our lifestyle collection. We look forward to honoring the property’s legacy while enhancing performance and delivering an elevated guest experience.”
Stonebridge, based in Denver, is a privately held hotel management company founded by Chairman Navin Dimond and led by Smith. The company recently added the 244-room Marriott Saddle Brook in Saddle Brook, New Jersey, to its full-service portfolio.