Dallas spearheads the largest hotel construction project in the US

According to Lodging Econometrics (LE) fourth quarter US construction pipeline trends report, the US market with the largest portfolio of hotel construction projects is dallas with a record count of 176 projects, representing 20,790 rooms. Following Dallas is Atlanta with 145 projects/18,100 rooms, Los Angeles with 122 projects/19,419 rooms, Phoenix with 116 projects/16,229 rooms and Nashville with 106 projects/14,198 rooms. US markets with most projects currently underway building They are New York, with 61 projects/9,976 rooms, and Phoenix, with 28 projects/5,522 rooms. Following New York and Phoenix are Atlanta with 27 projects/4,253 rooms, Dallas with 23 projects/3,435 rooms, and California’s Inland Empire region with 21 projects/2,120 rooms. As of the end of the fourth quarter, Dallas has the most projects scheduled to start in the next 12 months with 68 projects/7,711 rooms, followed by Atlanta with 63 projects/7,520 rooms, Phoenix with 47 projects/5,492 rooms, Nashville with 45 projects /5199 rooms, and then Los Angeles with 42 projects/6,436 rooms. Dallas also has the largest number of hotel projects in the early planning stages, with 85. Projects/9,644 rooms at the end of 4Q. Following Dallas is Los Angeles with 61 projects/10,033 rooms, then Atlanta with 55 projects/6,327 rooms, the Inland Empire region with 48 projects/4,993 rooms, and Orlando with 45 projects/8,127 rooms. Through 2022, the markets with the highest number of new openings are New York with 29 projects/4,223 rooms, Austin with 18 projects/2,233 rooms, Nashville with 15 projects/2,354 rooms, Atlanta with 13 projects/1,746 rooms, and Washington, DC with 11 projects/2,012 rooms.

LE analysts forecast The New York market will have the most new hotel openings in 2023 with 46 new hotels / 7,795 rooms, for a growth rate of 6.4%. In 2024, Atlanta is expected to open the most new hotels, with 26 projects/3,881 rooms, for a growth rate of 3.4%.

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