PORTSMOUTH, NH Lodging Econometrics (LE) reported that the number of hotels in the active development pipeline (those under construction and in permitting) declined nationwide by 320 projects and 61,500 rooms during the fourth quarter of 2000.
A total of 1,591 projects and 222,871 rooms were reported in the active pipeline at the end of the fourth quarter of 2000 as compared to a total of 1,911 projects and 284,371 rooms at the end of the third quarter of 2000, a decline of 16.7% and 21.6% respectively. LE expects declines to begin showing in industry operating statistics during the late first quarter of 2001. (3/2/01)