Analysts at Lodging Econometrics (LE) report that at the close of the first quarter of 2020*, the top five U.S. markets with the largest total hotel construction pipelines are: Los Angeles with 166 projects/27,752 rooms; Dallas with 164 projects/19,999 rooms; New York City with 152 projects/26,111 rooms; Atlanta with 143 projects/19,423 rooms; and Houston with 132 projects/13,316 rooms.
Nationally, under construction project counts hit a new all-time high with 1,819 projects with 243,100 rooms. Markets with the greatest number of projects already in the ground are led by New York City with 108 projects/18,434 rooms. Atlanta follows with 48 projects/6,002 rooms, and then Dallas with 46 projects/5,603 rooms, Los Angeles with 43 projects/6,851 rooms, and Orlando with 39 projects/9,394 rooms. Collectively, these five markets account for 16% of the total number of projects currently under construction in the U.S.
In the first quarter, Dallas had the highest number of new projects announced into the pipeline with 13 projects/1,461 rooms. Washington DC follows with 8 projects/1,145 rooms, then Phoenix with 8 projects/904 rooms, Los Angeles with 7 projects/1,103 rooms, and Atlanta with 7 projects/774 rooms.
As has been widely reported, the majority of hotels across America are experiencing an extreme decrease in occupancy and some have even closed temporarily. Many companies are using this time to complete updates, plan or start renovations or reposition their assets. LE recorded renovation and conversion totals of 1,385 active projects/232,288 rooms in the first quarter of 2020. The markets with the largest count of renovation and conversion projects combined are Chicago with 32 projects/5,565 rooms, Washington DC with 26 projects/5,491 rooms, Los Angeles with 26 projects/4,271 rooms, New York City with 21 projects/8,151 rooms and San Diego with 21 projects/4,456 rooms.
FOOTNOTE:
*COVID-19 (coronavirus) did not have a full impact on first quarter 2020 U.S. results reported by LE. Only the last 30 days of the quarter were affected. LE’s market intelligence department has and will continue to gather the necessary global intelligence on the supply side of the lodging industry and make that information available to our subscribers. It is still early to predict the full impact of the outbreak on the lodging industry. We will have more information to report in the coming months.
Related Stories
Market Data | Dec 2, 2020
Nonresidential construction spending remains flat in October
Residential construction expands as many commercial projects languish.
Market Data | Nov 30, 2020
New FEMA study projects implementing I-Codes could save $600 billion by 2060
International Code Council and FLASH celebrate the most comprehensive study conducted around hazard-resilient building codes to-date.
Market Data | Nov 23, 2020
Construction employment is down in three-fourths of states since February
This news comes even after 36 states added construction jobs in October.
Market Data | Nov 18, 2020
Architecture billings remained stalled in October
The pace of decline during October remained at about the same level as in September.
Market Data | Nov 17, 2020
Architects face data, culture gaps in fighting climate change
New study outlines how building product manufacturers can best support architects in climate action.
Market Data | Nov 10, 2020
Construction association ready to work with president-elect Biden to prepare significant new infrastructure and recovery measures
Incoming president and congress should focus on enacting measures to rebuild infrastructure and revive the economy.
Market Data | Nov 9, 2020
Construction sector adds 84,000 workers in October
A growing number of project cancellations risks undermining future industry job gains.
Market Data | Nov 4, 2020
Drop in nonresidential construction offsets most residential spending gains as growing number of contractors report cancelled projects
Association officials warn that demand for nonresidential construction will slide further without new federal relief measures.
Market Data | Nov 2, 2020
Nonresidential construction spending declines further in September
Among the sixteen nonresidential subcategories, thirteen were down on a monthly basis.
Market Data | Nov 2, 2020
A white paper assesses seniors’ access to livable communities
The Joint Center for Housing Studies and AARP’s Public Policy Institute connect livability with income, race, and housing costs.
