{HBR_LEAD_468x60.media}

Business & Finance

New York Market Leads U.S. Markets with the Largest Construction Pipeline Followed by Houston and Dallas

PORTSMOUTH, NH. August 31, 2017 – In the second quarter, analysts at Lodging Econometrics (LE) report that the five U.S. markets with the largest hotel construction pipelines by project count are: New York with 190 Projects/31,923 Rooms; Houston with 159 Projects/17,472 Rooms; Dallas with 147 Projects/18,429 Rooms; Nashville with 125 Projects/16,697 Rooms; and Los Angeles with 109 Projects/17,029 Rooms.

Dallas has the most New Hotel Openings forecasted for 2017 with 42 Hotels/5,029 Rooms, then New York, which is expected to open 38 Hotels/5,657 Rooms followed by Houston with 31 Hotels/3,182 Rooms. In 2018, New York is forecasted to open the most hotels with 60 Projects/9,666 Rooms and in 2019, Houston will lead with 39 Projects/4,779 Rooms.

The markets with the most New Project Announcements into the Pipeline in the last 12 months are: New York with 57 Projects/9,342 Rooms, Dallas with 53 Projects/6,836 Rooms, and Houston with 46 Projects/4,286 Rooms.

About Lodging Econometrics

Lodging Econometrics (LE) is the lodging industry’s leading consulting partner for global real estate intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable insights that turn their clients’ business goals into timely opportunities.

Contact:
Emily Dennison
edennison@lodgingeconometrics.com
+1 603.427.9544

Coming Up In The December Online Hotel Business Review




{300x250.media}
Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.