According to the Q3 2025 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics, the total U.S. pipeline has remained relatively unchanged year over year and stands at 6,205 hotels with 728,416 rooms, holding steady by projects and up 1 percent by rooms year over year.
Construction Pipeline
At the close of the third quarter, there are 1,118 hotels with 137,620 rooms under construction. Projects scheduled to start construction in the next 12 months total 2,234 hotels with 258,973 rooms. Projects in early planning in the U.S. currently stand at 2,853 hotels with 331,823 rooms. Year-over-year, both the starts in the next 12-month stage of the construction pipeline and the early planning stage increased modestly, while the under construction stage saw a marginal decline. New project announcements for the quarter totaled 230 hotels with 28,951 rooms. Hotel renovations across the U.S. stand at 566 hotels with 123,142 rooms at Q3.
LE analysts report that the upper midscale chain scale continues to have the largest project count in the U.S. pipeline, with 2,279 hotels with 219,385 rooms. Following is the upscale chain scale with 1,383 hotels with 172,238 rooms. Together, these two chain scales comprise 59 percent of all projects in the total pipeline. The midscale segment stands at 947 hotels with 78,956 rooms, up 2 percent by both projects and rooms year over year. Combined, the top three chain scales by project count—upper midscale, upscale, and midscale—account for 65 percent of all projects in the total pipeline.
Extended-Stay Pipeline
Extended-stay hotel projects continue to be a significant component of the U.S. hotel construction pipeline. At Q3 2025, extended-stay projects total 2,468 hotels with 250,754 rooms accounting for 40 percent of all projects and 34 percent of all rooms in the total pipeline.
Middle tier extended-stay hotels represent the largest segment with 1,648 hotels with 154,499 rooms, up 3 percent by both projects and rooms year over year. Upper tier extended-stay hotels stand at 653 hotels with 77,019 rooms. Lower tier extended-stay accounts for 167 hotels with 19,236 rooms.
Within the extended-stay segment, 431 hotels with 45,542 rooms are currently under construction. Projects scheduled to start construction in the next 12 months stand at 983 hotels with 102,064 rooms. Extended-stay projects in the early planning stage total 1,054 hotels with 103,148 rooms.
Hotel Development Pipeline
Brand conversion activity reached record-high project totals and closed the quarter with 1,477 hotels and 148,035 rooms, up 18 percent by projects and 22 percent by rooms year over year. Combined, the total renovation and brand conversion pipeline in the U.S. stands at 2,043 hotels with 271,177 rooms, up 4 percent by projects and 3 percent by rooms year over year.
New Hotel Openings Forecast
Through the third quarter, 490 new hotels with 57,479 rooms opened in the U.S., with another 202 hotels with 22,368 rooms anticipated to open by year-end 2025. LE projects 2025 to finish with 692 new hotels with 79,847 rooms and a forecasted growth rate of 1.4 percent. Looking ahead, LE analysts forecast 754 new hotels with 83,118 rooms to open in calendar year 2026 for a 1.5 percent growth rate. For 2027, LE forecasts 864 new hotels with 91,571 rooms to open for a 1.6 percent growth rate.