In the recent U.S. Construction Pipeline Trend Report released by Lodging Econometrics (LE), at the close the fourth quarter of 2020 and after more than 6 quarters since leading all U.S. markets in the number of pipeline projects, New York City has regained top billing again with 150 projects/25,640 rooms. Other U.S. markets that follow are Los Angeles with 148 projects/24,808 rooms; Dallas with 147 projects/17,756 rooms; Atlanta with 140 projects/19,863 rooms, recording a record-high number of rooms; and Orlando with 112 projects/19,764 rooms, a record-high pipeline project count for the market.
New York City has the greatest number of projects under construction with 108 projects/19,439 rooms and also the highest number of construction starts in the fourth quarter with 14 projects/2,617 rooms. Following New York City with the highest number of projects under construction is Atlanta with 46 projects/6,728 rooms, and then Los Angeles with 40 projects/7,131 rooms; Dallas with 39 projects/4,656 rooms; and Austin with 33 projects/4,850 rooms.
Despite the impact COVID-19 has had on hotel development, there are four markets in the U.S. that announced more than 10 new construction projects in Q4 ’20. Those markets include Miami with 18 projects accounting for 2,756 rooms, Orlando with 18 projects/4,806 rooms, New York with 17 projects/2,700 rooms, and Atlanta with 11 projects/1,843 rooms.
LE has also seen an increase in announced renovation and brand conversion activity throughout the last few quarters. At year-end 2020, there were 1,308 projects/210,124 rooms in the U.S. undergoing a renovation or conversion. Of the 1,308 renovation and conversion projects, 625 of those are in the top 50 markets. There are nine markets in the U.S. that currently have more than 20 renovation and conversion projects underway. That is led by Los Angeles with 28 projects, followed by Phoenix, Washington DC, Houston, Atlanta, Dallas, Chicago, New York, and Norfolk.
The top 50 markets saw 399 hotels/52,581 rooms open in 2020. LE is forecasting these same 50 markets to open another 509 projects/66,475 rooms in 2021, and 575 projects/71,025 rooms in 2022.
Related Stories
Giants 400 | Sep 9, 2022
Top 80 Hotel Sector Contractors + CM Firms for 2022
AECOM, Suffolk Construction, STO Building Group, and Swinerton top the ranking of the nation's largest hotel and resort sector contractors and construction management (CM) firms for 2022, as reported in Building Design+Construction's 2022 Giants 400 Report.
Giants 400 | Sep 9, 2022
Top 70 Hotel Sector Engineering + EA Firms for 2022
Jensen Hughes, Jacobs, WSP, and Kimley-Horn top the ranking of the nation's largest hotel and resort sector engineering and engineering/architecture (EA) firms for 2022, as reported in Building Design+Construction's 2022 Giants 400 Report.
Giants 400 | Sep 8, 2022
Top 115 Hotel Sector Architecture + AE Firms for 2022
Gensler, WATG, HKS, and Stantec top the ranking of the nation's largest hotel and resort sector architecture and architecture/engineering (AE) firms for 2022, as reported in Building Design+Construction's 2022 Giants 400 Report.
Giants 400 | Aug 19, 2022
2022 Giants 400 Report: Tracking the nation's largest architecture, engineering, and construction firms
Now 46 years running, Building Design+Construction's 2022 Giants 400 Report rankings the largest architecture, engineering, and construction firms in the U.S. This year a record 519 AEC firms participated in BD+C's Giants 400 report. The final report includes more than 130 rankings across 25 building sectors and specialty categories.
Hotel Facilities | Aug 12, 2022
Denver builds the nation’s first carbon-positive hotel
Touted as the nation’s first carbon-positive hotel, Populus recently broke ground in downtown Denver.
Hotel Facilities | Jul 28, 2022
As travel returns, U.S. hotel construction pipeline growth follows
According to the recently released United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the total U.S. construction pipeline stands at 5,220 projects/621,268 rooms at the close of 2022’s second quarter, up 9% Year-Over-Year (YOY) by projects and 4% YOY by rooms.
Hotel Facilities | May 31, 2022
Checking out: Tips for converting hotels to housing
Many building owners are considering repositioning their hotels into another property type, such as senior living communities and rental apartments. Here's advice for getting started.
Sponsored | Multifamily Housing | May 8, 2022
Choosing the right paver system for rooftop amenity spaces
This AIA course by Hoffmann Architects offers best practices for choosing the right paver system for rooftop amenity spaces in multifamily buildings.
Sponsored | BD+C University Course | May 3, 2022
For glass openings, how big is too big?
Advances in glazing materials and glass building systems offer a seemingly unlimited horizon for not only glass performance, but also for the size and extent of these light, transparent forms. Both for enclosures and for indoor environments, novel products and assemblies allow for more glass and less opaque structure—often in places that previously limited their use.
Hotel Facilities | Apr 25, 2022
U.S. hotel construction pipeline up 2%, with 5,090 projects in the works
The total U.S. hotel construction pipeline stands at 5,090 projects and 606,302 rooms at the end of the first quarter of 2022, up 2% by projects, but down 3% by rooms, according to the Q1 2022 Construction Pipeline Trend Report for the United States from Lodging Econometrics (LE).
