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Hilton Worldwide had 1,312 projects representing about 148,000 rooms in the pipeline, and IHG Hotels & Resorts had 789 projects with about 79,700 rooms. projects under construction at the close of the second quarter than any other hotel company, with 1,355 projects representing about 167,000 rooms in development.

Hotel investors and developers are still eager to move forward on projects and are being more mindful when approaching a deal.' banking system is healthy, and the planning of new hotel projects continues. Still, the company noted that 'corporate and personal balance sheets are reasonably strong, the U.S.

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'Market volatility, persistent inﬂation, rising energy prices, elevated transportation costs, materials shortages, and supply chain backlogs continue to pose a challenge and slow the timeline to full recovery,' according to Lodging Econometrics. Lodging Econometrics predicted development growth would continue throughout 2022 and noted that 'pent-up demand and increased consumer sentiment and spending has led to record-high rates of travel and much improved hotel revenue over the last few months,' but suggested jittery economic conditions cloud developers' futures. However, the company reported 965 projects under construction, representing about 131,000 rooms, figures that were down 17 percent and 18 percent, respectively, from one year prior. Projects in the early planning stages of development were up 26 percent to nearly 2,250-a record high, according to Lodging Econometrics-representing a 15 percent in increase in rooms. hotel construction pipeline stood at 5,220 projects, up 9 percent year over year, representing about 621,000 rooms, up 4 percent. While the company expects growth to continue due to developers' pent-up demand, elevated costs for materials and supply chain issues could slow its pace, according to the report. hotel construction projects in the development pipeline at the end of the second quarter was about 9 percent higher than one year prior, according to a new report from Lodging Econometrics.

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