US hotel construction pipeline flat, while brand conversions set record
AI Article Summary
The hotel construction pipeline in the United States remained stable in the third quarter, although there was a slight decrease from earlier quarters. Dallas led the market with the most hotels under construction during this period. Brand conversions in the hotel sector reached a record high, as reported by Lodging Econometrics. This indicates a continued demand for hotel transformation and adaptations rather than new builds.
What This Means for Canadian Contractors
For Canadian builders, this means there may be opportunities in the U.S. hotel sector for brand conversions, suggesting a focus on renovating existing structures. This can affect supply chain dynamics, particularly in terms of materials and specialized labor for renovations. Canadian contractors might consider strategic partnerships or cross-border collaborations to tap into this persistent demand in the U.S. market.
