The latest STR Pipeline report for May indicates that 2,677 hotel projects comprising 322,963 rooms are in development, marking an 11.3% increase compared with figures a year ago. "The U.S. development pipeline continued to steadily increase in May. ... STR is expecting full-year 2013 net room supply growth of around 1%, about half the long-term annual growth rate," said Bobby Bowers, STR's senior vice president of operations.

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