U.S. Hotel Construction Pipeline Reaches 6,146 Projects as Brand Conversions Set Record

The U.S. hotel construction pipeline closed Q4 2025 with 6,146 projects and 720,089 rooms, driven by a record number of brand conversions and steady growth across all development stages, according to Lodging Econometrics.

Overview of the U.S. Hotel Construction Pipeline

The United States hotel construction pipeline ended the fourth quarter of 2025 with 6,146 projects and 720,089 rooms. This data, provided by Lodging Econometrics’ (LE) latest Hotel Construction Pipeline Trend Report, highlights ongoing activity in the sector. The pipeline includes projects in various stages: under construction, scheduled to start within the next 12 months, and early planning.

Project Stages and Room Counts

At the end of Q4 2025, 1,088 projects with 134,380 rooms were under construction. An additional 2,175 projects, accounting for 253,750 rooms, are scheduled to begin construction within the next year. The early planning stage contains the largest share, with 2,883 projects and 331,959 rooms. This distribution indicates a steady flow of projects moving through the development process.

Chain Scale Segmentation

Upper midscale hotels lead the pipeline, comprising 2,275 projects and 218,526 rooms. The upscale segment follows with 1,336 projects and 167,316 rooms. The midscale segment remained stable at the end of the quarter, with 956 projects and 80,260 rooms. The luxury segment showed positive growth, reaching a record high of 95 projects and 22,045 rooms.

New Project Announcements and Construction Starts

During Q4 2025, 285 new projects with 32,358 rooms were announced, adding to the pipeline. Over the entire year, construction started on 668 projects, totaling 78,530 rooms. Of these, 148 projects with 17,623 rooms began construction in the fourth quarter alone.

Brand Conversions and Renovations

Brand conversions reached a record high at the end of Q4, with 1,497 projects and 148,981 rooms in the pipeline. This represents a 12% year-over-year increase in the number of projects and a 16% rise in the number of rooms. Renovation projects remained relatively unchanged, with 621 projects and 129,647 rooms. Combined, renovation and conversion projects totaled 2,118 projects and 278,628 rooms, marking a significant portion of overall hotel development activity.

Hotel Openings and Supply Growth

In 2025, 640 new hotels opened in the U.S., adding 74,079 rooms and increasing the national hotel supply by 1.3%. Lodging Econometrics projects continued growth, with 708 new hotels and 80,034 rooms expected to open in 2026, corresponding to a 1.4% increase in supply. The trend is anticipated to accelerate in 2027, with forecasts of 824 new hotels and 88,095 rooms, representing a 1.5% increase in the national hotel census.

Outlook

The data from Q4 2025 indicate stable, ongoing activity in the U.S. hotel construction pipeline, with significant contributions from brand conversions and renovations. The outlook for the next two years suggests continued expansion of hotel supply, driven by projects in all stages of development and across multiple chain scales.