Portsmouth, N.H.-based Lodging Econometrics recently released its Lodging Development Forecast that reports the hotel “pipeline,” which consists of hotels in early planning stages and those under construction or scheduled to start in the next 12 months, increased for the fifth straight quarter in Q1 2005 to 2,388. The hotel pipeline has been growing since it bottomed out in Q4 2003, and the forecast looks bright for the future of hotel construction. The report predicts that an estimated 322,177 hotel rooms will be built between Q1 2005 and Q1 2006.