New York City, Dallas and Houston Markets Lead U.S. Construction Pipeline
August 2, 2018 12:12pm
August 2, 2018 – PORTSMOUTH, NH
According to the second quarter construction pipeline trend report by Lodging Econometrics (LE), the top five markets with the largest hotel construction pipelines are: New York City with 169 projects/29,365 rooms; Dallas with 156 projects/18, 908 rooms; Houston with 150 projects/16,321 rooms; Nashville with 123 projects/16,392 rooms; and Los Angeles with 121 projects/18,037 rooms.
The five top markets with the most projects currently under construction are New York City with 101 projects/17,108 rooms, Dallas with 47 projects/6,350 rooms, Nashville with 43 projects/7,005 rooms, Houston with 40 projects/4,738 rooms, and Atlanta with 28 projects/3,387 rooms.
In the second quarter, Nashville has the largest number of new projects announced into the pipeline with 13 projects/1,351 rooms, followed by Los Angeles with 12 projects/1,845 rooms, New York City with 11 projects/1,075 rooms, Houston with 11 projects/909 rooms, and Dallas with 10 projects/1,229 rooms. If all of the projects in their pipelines come to fruition, these leading markets will increase their current room supply by: Nashville 38.2%, Austin 29.3%, Fort Worth 28.5%, San Jose 25.3%, and New York City 25.2%.
Hotels forecast to open in 2018 are led by New York City with 45 projects/7,762 rooms, followed by Dallas with 33 projects/ 3,813 rooms, and then Houston with 27 projects/3,114 rooms. In 2019, New York is forecast to again top the list of new hotel openings with 52 projects/7,356 rooms while, at this time, Dallas is anticipated to take the lead in 2020 with 40 projects/4,943 rooms expected to open.
Tags: lodging econometrics,
hotel construction pipeline
Lodging Econometrics is the leading provider of global hotel intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable business development programs for hotel franchise companies looking to accelerate their brand growth, hotel ownership and management companies seeking to expand their real estate portfolios, and lodging industry vendors wanting to increase their sales. LE’s programs turn a client’s business goals into opportunities that advances their competitive advantage.
Contact: Colleen Brennan
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