According to the third quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE), Dallas has the largest hotel construction pipeline by projects, with 174 projects containing 20,676 rooms. Following Dallas, there are 139 projects/17,843 rooms in Atlanta, 118 projects/19,062 rooms in Los Angeles, 113 projects/15,508 rooms in Phoenix, and 102 projects/17,805 rooms in New York.
The markets in the United States with the most projects now under development are New York (69 projects/11,781 rooms) and Atlanta (25 projects/3,798 rooms). Phoenix has 24 projects/5,126 rooms, Dallas has 23 projects/3,390 rooms, and Austin has 22 projects/3,135 rooms, after New York and Atlanta.
Atlanta had many projects scheduled to begin in the next 12 months at the end of the third quarter, with 63 projects/8,026 rooms, followed by Dallas with 63 projects/7,355 rooms, Phoenix with 53 projects/5,837 rooms, Los Angeles with 48 projects/7,461 rooms, and Houston with 36 projects/4,227 rooms. Dallas also boasts the most hotel projects in the early planning stages, with 88 projects/9,931 rooms at the end of the third quarter. Following Dallas is Los Angeles, which has 51 projects/8,668 rooms in the planning stages, Atlanta, which has 51 projects/6,019 rooms, Orlando, which has 46 projects/8,039 rooms, and Nashville, which has 44 projects/5,519 rooms.
New York City, Austin, Nashville, Atlanta, and Detroit will experience the newest openings in the first three quarters of 2022. According to LE analysts, the New York market will have the newest hotel openings in 2022, with 38 new hotels/5,066 rooms, representing a 4.2% growth rate. The New York market is also predicted to have the newest hotel openings in the United States in 2023, with 39 projects/7,208 rooms, representing a 5.8% growth rate. Phoenix is expected to open the newest hotels in 2024, with 29 projects and 4,062 rooms, representing a 5.6% growth rate.
Qatar Airways Unveils Extensive Expansion of its Flight Network
7,000 New Islands, Hitherto Unknown, Discovered in Japan
A New Sustainable Retreat Opening Soon in Saudi Arabia