HIP's six-month growth rate, which has historically confirmed the turning points in US hotel business activity, posted a positive rate of 2.2% in November, following a positive rate of 2.1% in October. This compares to a long-term annual growth rate of 2%, the same as the 40-year average annual growth rate of the industry's gross domestic product.
According to pipeline data from STR, the number of hotel rooms under construction in the U.S. has declined or remained flat year over year for three consecutive months. Overall, there were 179,979 rooms in construction across 1,400 hotels for the month of December.
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Hotel room rates in the top-25 most popular U.S. destinations average $173.35 this January, down from $176.93 in December, according to hotel online room rates derived from real time global multi-provider database of reservations maintained by e−forecasting.com.