HotelMarketData (HMD) Index indicates over 4,000 new hotel rooms under construction to become available in the Austin region by the end of Q4 2021
01-December-2020 – Chicago, IL – Austin, Texas anticipates a 10% increase in the supply of hotel rooms by the end of the fourth quarter of 2021. The total supply will increase from 40,676 currently available to over 44,790 available rooms as 26 hotels are slated to open in the Austin region over the next 12 months.
According to the HMD Index, which provides real-time supply and construction pipeline data for the US hotel industry, the supply of luxury rooms within Austin is expected to increase by 12.85% and the supply of upscale hotel rooms is expected to increase by 13.55% over the next 12 months.
By the end of the fourth quarter of 2021, Marriott International Inc. (NASDAQ: MAR) will likely see the greatest increase in hotel room supply in the Austin area with 14.48% growth, while Hilton Hotels Corporation (NYSE: HLT) is showing the second highest growth forecast at 12.75%.
The HMD Index’s real-time hotel supply and construction pipeline data is driven by HotelMarketData’s construction reports, profiles and analytics.
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