Overview

• At the close of Q2 2025, the pipeline encompassed 6,280 projects and 737,036 rooms, marking a 3% year-over-year increase in both metrics.
• Dallas led all markets with 199 projects totaling 24,497 rooms, while Phoenix topped the under-construction category with 35 projects and 5,089 rooms.
• Upper midscale and upscale chains together account for 59% of all pipeline projects, led by 2,282 upper midscale properties representing 219,875 rooms.
• Extended-stay brands make up over 37% of the pipeline at various stages, amounting to 2,473 projects and 252,028 rooms.
• Lodging Econometrics forecasts 735 new hotel openings with 84,788 rooms by year-end 2025, followed by 823 openings in 2026 and 902 in 2027.