Spotlight Market: Houston, Texas
December 7, 2018 12:42pm
In the most recent Lodging Econometrics (LE) Hotel Construction Pipeline Trend report, LE states that Houston has a total of 150 projects/16,473 rooms in the construction pipeline, the third highest in the U.S. behind New York City with 170 rooms/29,630 rooms and Dallas with 157 projects/18,954 rooms.
In Houston, 45 projects/5,531 rooms are presently under construction, projects scheduled to start construction in the next 12 months are at 58 projects/6,031 rooms, and those in early planning are at 47 projects/ 4,911 rooms. If all of the projects in the pipeline eventually come to fruition, this will increase the city’s guest room supply by 19.2%.
Of the ten market tracts in Houston, the three with the largest hotel construction pipelines are: the George Bush Airport area with 26 projects/2,606 rooms; the Southwest Freeway area with 20 projects/1,941 rooms; and the Eastern part of Houston to include Baytown with 20 projects/1,653 rooms. These three important market tracts combined account for 44% of Houston’s total construction pipeline.
Houston should continue its fast-paced growth. For the first half of the year, it ranked fifth of all markets for the most new hotel projects announced into the pipeline, with 33 projects/3,721 rooms.
Tags: lodging econometrics,
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: Rebecca Evans
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