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Hotel Development Pipeline Dries up in Q2

PORTSMOUTH, NH-Slowdown in builds is called largest decrease in since Q4 '98.

By John Salustri | Updated on September 01, 2000

The long reported imbalance in hotel supply/demand has let up some, with new development decreasing in the second quarter by 6.2%. That is the result of studies conducted by Lodging Econometrics, the research division of locally based National Hotel Realty. The firm says that the dip in builds is the largest decrease since Q4 of 1998.

In addition, the study reveals that new supply decreased to 3.2% for the first half of the year, down from 4.2% in 1999. The firm notes that project postponements and cancellations are accelerating and that the continued limitations in funding are playing a major part in restricting construction for all but the most experienced developers.

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