In keeping with the United States Building Pipeline Trend File by Lodging Econometrics (LE) for Q2 2023, the 5 markets with the greatest lodge construction pipelines are Dallas with a yarn-high 184 projects/21,501 rooms, Atlanta with 141 projects/17,993 rooms, Phoenix with 119 projects/16,107 rooms, Nashville with 116 projects/15,346 rooms, and Los Angeles with 112 projects/17,797 rooms.
The markets with basically the most projects currently under construction at the Q2 shut are New York with 47 projects/8,201 rooms, and Phoenix with 29 projects/6,064 rooms. Dallas has basically the most projects scheduled to commence in the next one year with 69 projects/8,045 rooms, adopted by Atlanta with 66 projects/7,932 rooms, and the Inland Empire market with Forty eight projects/4,946 rooms. Markets with basically the most projects in early planning are also led by Dallas with 90 projects/10,104 rooms, Los Angeles with 52 projects/8,663 rooms, and Nashville with 51 projects/6,009 rooms.
LE recorded a blended renovation and conversion pipeline total of 1,939 projects with 253,473 rooms for the U.S. at the Q2 shut. The markets with the greatest blended sequence of renovations and conversions are Atlanta with 39 projects/4,232 rooms, Chicago with 36 projects/4,921 rooms, and Dallas with 33 projects/5,687 rooms.
At the shut of the 2d quarter, the Inland Empire market has the greatest sequence of newest projects announced into the pipeline with 7 projects/791 rooms, adopted by Tampa with 6 projects/986 rooms, and Nashville with 6 projects/803 rooms.
For the first half of of 2023, the U.S. opened 224 fresh resorts/27,194 rooms with one other 384 fresh resorts/Forty eight,607 rooms anticipated to originate by one year-cease. Reflective of the latest pipeline, L.E.’s forecast for fresh lodge openings will proceed to upward thrust through 2025.
At Q2, the tip 25 markets in the U.S. are forecast to originate 40% of the rooms anticipated to originate by one year-cease. Twenty-six p.c of the fresh resorts forecast to originate between now and 2023 one year-cease are concentrated within ten markets. Of those ten markets, those with the greatest sequence of newest resorts forecast to originate for all of 2023 are led by New York with 42 projects/7,192 rooms, adopted by the Inland Empire market with 16 projects/1,564 rooms, Austin with 14 projects/2,021 rooms, Atlanta with 14 projects/1,369 rooms, and Dallas with 13 projects/2,100 rooms.
In 2024, Atlanta is forecast to high the listing of newest lodge openings with 20 projects/3,198 rooms, then Phoenix with 19 projects/3,480 rooms, and Dallas with 19 projects/2,159 rooms.
Right now, in 2025, Atlanta is anticipated to again lead in fresh lodge openings with 24 projects/2,829 rooms anticipated to originate, adopted by Dallas with 23 projects/2,343 rooms, and the Inland Empire market with 18 projects/1,844 rooms.
About Lodging Econometrics (LE)
For over 25 years, Lodging Econometrics (LE) has been the industry-main provider of world lodge intelligence and resolution-maker contact data. LE personalized-builds replace style database programs for lodge franchise corporations having a stumble on to urge up their tag growth, lodge possession and management corporations in quest of to develop their real estate portfolios, and lodging industry distributors searching for to develop their sales. To learn extra about our replace style programs contact us: +1 603.431.8740, ext 0025 or [email protected].