The hotel business continues to reach new heights with greater and greater demand for more occupancy. As such, developers continue to build and open new hotels across the country.
In fact, according to a recent article in National Real Estate Investor, the number of new hotel rooms planned for this year is up 9% as of the end of September.
Room demand is at an all time high. "The U.S. hotel industry - through August - has sold more rooms than ever before." This is mostly due to the U.S. economy being relatively strong: "Healthy corporate profits continue to create demand for business travel. And because unemployment is relatively low and the purchasing power of many families is strong, consumers continue to travel for leisure. The damage created by Hurricanes Harvey and Irma also inflated the demand for hotel rooms in Texas and Florida, as people whose homes were damaged needed to find other places to stay."