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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In 2017, the U.S. hotel industry saw occupancy increase 0.9% to $65.9%, and a 2.1% ADR increase to $126.72 drove RevPAR up 3% to $83.57 over 2016.
Hotels in Munich reported positive year-over-year results during the month of December, according to preliminary data from STR. Occupancy increased 0.3% to 68.7%, ADR grew 4.9% to 118.24 ($143.47) and RevPAR saw a gain of 5.2% to 81.27 ($98.61).