As seen within the Q2 2025 U.S. Resort Building Pipeline Pattern Report from Lodging Econometrics (LE), on the finish of the second quarter, there have been 6,280 initiatives with 737,036 rooms within the pipeline. This represented a 3 % year-over-year (YOY) enhance in each initiatives and rooms in comparison with Q2 2024 totals.
On the shut of the second quarter, there have been 1,120 initiatives comprising 138,776 rooms beneath building. Initiatives slated to begin building anytime throughout the subsequent 12 months totaled 2,263, comprising 260,052 rooms. Each initiatives and rooms within the under-construction and scheduled to begin within the subsequent 12 months phases of the pipeline had been down barely YOY on the shut of the quarter. Nonetheless, initiatives and room counts within the early starting stage elevated by 13 % and 14 % YOY, respectively, ending the quarter at 2,897 initiatives and 338,208 rooms.
Chain Scales Drive Pipeline Progress
LE analysts reported that the higher midscale chain scale stood at 2,282 initiatives/219,875 rooms on the finish of the second quarter of 2025 and had the very best venture rely of all chain scales within the whole U.S. building pipeline. The second largest was the upscale chain scale, which had 1,427 initiatives/177,756 rooms. Collectively, the upscale and higher midscale chain scales comprised 59 % of all initiatives within the whole pipeline. The highest three chainscales by venture rely (higher midscale, upscale, and midscale), mixed whole 4,658 initiatives/477,066 rooms, represented 74 % of all initiatives and 65 % of all rooms within the pipeline.
The higher upscale chain scale skilled notable progress with an 11 % enhance in initiatives YOY, reaching 360 initiatives/67,680 rooms. The midscale chain scale additionally confirmed robust YOY progress with a 6 % enhance in initiatives, totaling 949 initiatives/79,435 rooms.
Prolonged-Keep Manufacturers Proceed Pipeline Dominance
Prolonged-stay manufacturers continued to stay common with builders, accounting for 38 % of the initiatives beneath building, 43 % of initiatives scheduled to start throughout the subsequent 12 months, and 37 % of initiatives within the early starting stage. The full extended-stay pipeline stood at 2,473 initiatives/252,028 rooms, representing 39 % of all initiatives within the whole pipeline, and confirmed a 3 % enhance in initiatives and a couple of % enhance in rooms YOY.
Center-tier extended-stay manufacturers led the phase with 1,625 initiatives/152,557 rooms, exhibiting a 6 % enhance in initiatives and a 5 % enhance in rooms YOY. Higher-tier extended-stay manufacturers accounted for 670 initiatives/79,103 rooms, whereas lower-tier manufacturers comprised 178 initiatives/20,368 rooms.
All through the primary two quarters, 148 new extended-stay inns/15,397 rooms opened within the U.S. By year-end 2025, LE analysts forecast a complete of 293 new extended-stay inns/30,341 rooms to open, increasing the U.S. extended-stay provide by 5.0 %. In 2026, 340 new extended-stay inns/34,909 rooms had been anticipated to open, a 5.5 % progress in extended-stay provide. LE forecast that in 2027, an extra 385 new extended-stay inns/39,801 rooms will open, marking a 5.9 % progress in U.S. extended-stay provide.
Improvement Exercise and Conversions
Based on LE analysts, 329 new inns with 39,628 rooms opened within the U.S. in the course of the first and second quarters of 2025. New venture bulletins (NPAs) in Q2 totaled 237 initiatives/27,101 rooms. Building begins reached 155 initiatives/17,169 rooms.
Introduced renovations and model conversions, mixed, reached 1,956 initiatives/259,495 rooms, with conversions exhibiting robust progress at 1,364 initiatives/129,164 rooms, up 11 % in each initiatives and rooms YOY. Renovations totaled 592 initiatives/130,331 rooms. Collectively, resort conversions and renovations represented 31 % of all initiatives and 35 % of all rooms within the non-new-construction pipeline.
2025-2027 New Openings Forecast
The LE forecast for the rest of 2025 included the opening of one other 406 initiatives with 45,160 rooms, totaling 735 new inns with 84,788 rooms by year-end for a 1.5 % progress fee. The year-end 2025 forecast represented a 25 % enhance over the entire variety of resort openings in 2024, which stood at 590 inns/68,716 rooms. Waiting for 2026, LE analysts anticipated 823 new inns/89,073 rooms to open, representing a 1.6 % progress fee.
Introduced for the primary time was LE’s U.S. New Resort Openings Forecast for 2027, which estimated 902 initiatives/96,242 rooms to open within the U.S., marking continued provide progress of 1.7 %.
