Full-service hotel pipeline in major markets varies widely

The average age of upper-upscale room inventory in the top 25 markets is 32 years, but the average ages vary from 19 years in Nashville, Tennessee, to 50 years in San Francisco. In 15 of the top 25 markets, the average age of the full-service inventory is between 25 and 35 years. The age of the inventory has some relationship to the number of expected new upper upscale rooms. The rooms in the pipeline as a percent of inventory varies by market, but overall, it points to a relationship that implies that younger markets have a stronger pipeline.