The total construction pipeline peaked at 5,883 projects with785,547 guestrooms in mid-2008, including a record-high 242,229 nowbeing built. Early planning totals are also at historic highs, andprojects scheduled to start in the coming year are also at recordlevels.
"If there was no lending crisis or economic slowdown, developerswould have kept on going," Patrick Ford, president of Portsmouth,NH-based Lodging Econometrics, tells GlobeSt.com. He notes that thenation's hotel industry achieved record profits and strongoperating results last year, which unfortunately was the same timethat the credit crisis began.
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