Spotlight Market: San Diego
December 6, 2018 1:18pm
In the most recent Lodging Econometrics (LE) Construction Pipeline Trend report on San Diego, LE states that San Diego has a total of 37 projects/8,716 rooms in the construction pipeline.
Hotels presently under construction in San Diego are at 12 projects/1,861 rooms, projects scheduled to start construction in the next 12 months are at 16 projects/3,211 rooms, and those in early planning are at 9 projects/3,644 rooms. If all of the projects in the pipeline eventually come to fruition, this will increase the city’s guest room supply by 13.5%.
In the third quarter, San Diego announced 11 brand conversion projects totaling 1,128 rooms, making it the fourth largest market in the U.S for conversion activity. It is only surpassed by Atlanta with 20 projects, Phoenix with 14 projects, and Chicago with 13 projects. There are additionally another 12 projects/3,038 rooms that have announced renovations during this same time period.
The three market tracts with the largest hotel construction pipelines are: the San Diego Central Business District with 15 projects/4,294 rooms; the south and east portions of San Diego with 8 projects/2,574 rooms; and Carlsbad and Oceanside with 7 projects/1,058 rooms. These three important market tracts combined account for a whopping 81% of San Diego’s total construction pipeline.
San Diego is expected to grow modestly over the next few years. For the first half of the year, it has announced 6 new projects /2,339 rooms into the pipeline.
Tags: lodging econometrics,
construction pipeline trend report
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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