ARLINGTON, Virginia—The amount of U.S. resort rooms underneath development decreased 12 months over 12 months for a ninth consecutive month, based on CoStar’s September 2025 information.
U.S. Resort Pipeline
September 2025
Share change from September 2024
- In development: 137,956 rooms (down 12.3 %)
- Ultimate Planning: 258,836 rooms (down 3.5 %)
- Planning: 327,304 rooms (down 2.6 %)
“Greater than 80,000 rooms beneath the height from Q3 2020, development fell to the bottom level of the previous 40 quarters,” stated Isaac Collazo, STR’s senior director of analytics. “Uncertainty typically results in inaction, and builders and monetary establishments are nonetheless ready for a extra favorable atmosphere. Increased constructing and materials prices are additionally hampering groundbreakings, and we don’t foresee the cycle turning for a while. Nonetheless, extra rooms are underneath development now than after the Nice Recession—improvement is down however nonetheless taking place.”
Chain Scale Segments (Share of present provide, in-construction room rely:
September 2025 (proportion change from September 2024)
1. Luxurious (3.8 % / 5,911 rooms)
2. Higher Upscale (2.1 % / 15,292 rooms)
3. Upscale (3.6 % / 33,376 rooms)
4. Higher Midscale (3.3 % / 39,075 rooms)
5. Midscale (2.4 % / 12,746 rooms)
6. Economic system (0.7 %/ 4,559 rooms)
