Lodging Econometrics: Dallas Continues to Lead U.S. Construction Pipeline
🏨 Dallas leads hotel construction pipelines as of Q2 2024 with 189 projects/22,392 rooms. Atlanta sets records too, with 159 projects/18,522 rooms. New York tops under-construction projects with 46 projects/7,572 rooms. The U.S. has 2,007 renovation and conversion projects, Atlanta leading with 33 projects/4,660 rooms. In Q2, 301 new project announcements were made, totaling 39,793 rooms. The first half of 2024 saw 250 new hotels/29,777 rooms opened in the U.S. LE forecasts 650 new hotels/74,228 rooms by year-end 2024, a 35% increase over 2023. New York City will add 23 new hotels/2,731 rooms by year-end. Dallas is projected to open 34 new hotels/3,644 rooms by year-end 2026.
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