Hospitality construction sluggish in most Northeastern cities

An analysis of the top 10 largest hotel markets in the Northeast year to date, in terms of room inventory, revealed that most areas had subdued levels of construction through July. In aggregate, the number of rooms under construction as a percentage of supply across the top 10 Northeastern metropolitan areas was 1.5%, well below the national average of 2.4%. New York was the lone exception, as the level of construction in America’s largest city was 5.7% of its existing supply.