The results are in for the third quarter of 2018! Analysts at Lodging Econometrics, provider of global hotel intelligence, outlined the top five markets in the U.S. with the largest total hotel construction pipelines.
The senior vice president & director of global development at Lodging Econometrics JP Ford states,
“For the past several quarters, these markets have been among the markets with the highest pipeline totals. Owners should be aware of these developments and the potential new increases to supply and think strategically about what the impacts may be on their existing operations.”
1.New York City
- 170 projects
- 29,630 rooms
The New York City market ranked as the city with the greatest number of projects already in the ground and those scheduled to start construction in the next 12 months with 145 projects and 24,675 rooms. New York City ranked fourth in the number of new projects announced into the pipeline with 12 projects and 1,875 rooms.
2. Dallas
- 157 projects
- 18,954 rooms
The Dallas market ranked second to New York in the number of projects already in the ground and those scheduled to start construction in the next 12 months with 112 projects and 13,854 rooms. Dallas ranked third in the number of new projects announced into the pipeline with 14 projects and 1,529 rooms.
3. Houston
- 150 projects
- 16,473 rooms
The third ranked market was reported as Houston with 103 projects already in the ground and those scheduled to start construction in the next 12 months.
4. Los Angeles
- 141 projects
- 24,129 rooms
In the third quarter, Los Angeles was the city that ranked the highest in the number of new projects announced into the pipeline with 22 projects and 6,457 rooms. The LA market was ranked third in the number of projects already in the ground and those scheduled to start construction with 92 projects.
5. Nashville
- 115 projects
- 15,179 rooms
The Nashville market follows fourth, directly after Los Angeles, in the number of projects already under construction and those scheduled to start construction in the next 12 months with 88 projects and 12,322 rooms.
Lodging Econometrics forecast the number of new hotel openings will continue to increase through 2020. New York is expected to continue to lead in 2019 with the highest number of new hotels expected to open followed by Houston and Dallas. As 2020 will roll around, Lodging Econometrics predicts that Dallas will take the lead for new hotel openings leaving New York in second.
