Home Entertainment Dallas Dominates U.S. Hotel Construction: Record-Breaking Projects and Rooms in Q4 ’23

Dallas Dominates U.S. Hotel Construction: Record-Breaking Projects and Rooms in Q4 ’23

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Dallas Dominates U.S. Hotel Construction: Record-Breaking Projects and Rooms in Q4 ’23

The U.S. hospitality industry is a continuously shifting landscape, and the Q4 2023 U.S. Construction Pipeline Trend Report by Lodging Econometrics (LE) provides insight into the dynamic trends that are shaping key markets.

One of the standout cities in this report is Dallas, which has established itself as a powerhouse in the nation with a staggering 193 projects and 22,291 rooms. This impressive number signals robust growth and a high level of confidence in the hospitality sector. Following closely behind is Atlanta, setting its own record with 151 projects and 18,730 rooms. Nashville, Phoenix, and the Inland Empire also join the ranks with impressive project and room numbers, reflecting a trend of significant growth and development.

At the close of Q4, New York City maintains the highest number of projects under construction, with Dallas following closely. The city seems poised to maintain its momentum, leading in both projects scheduled to start in the next 12 months and in the early planning stages of the hotel construction pipeline. Other markets like Atlanta, Nashville, Inland Empire, Phoenix, and Los Angeles also show promising signs of upcoming projects and development.

Atlanta takes the lead in new projects announced in Q4, closely followed by Phoenix and Dallas. This trend reflects a dynamic landscape of new projects underway, indicating a vibrant and rapidly evolving industry.

In addition to new construction, the U.S. hospitality industry is also seeing strong renovation and conversion pipeline activity. This reflects an industry-wide focus on revitalizing existing structures and contributing to the overall growth and development of the sector.

Throughout 2023, the U.S. saw 474 hotel openings, adding 60,436 rooms to the U.S. supply total. New York City and Atlanta were among the markets with the highest number of new openings, reflecting a trend of significant growth and development in these cities. Looking ahead to 2024 and 2025, the forecasted number of new hotel openings provides valuable insights into the ongoing evolution of the U.S. hotel landscape.

Lodging Econometrics (LE) has been the industry-leading provider of global hotel intelligence and decision-maker contact information for over 25 years. The company custom-builds business development database programs for various entities in the hospitality industry, including hotel franchise companies, ownership and management companies, and lodging industry vendors.

Overall, the Q4 2023 U.S. Construction Pipeline Trend Report highlights the dynamic and evolving nature of the U.S. hospitality industry, with cities like Dallas, Atlanta, and New York City leading the way in terms of development and growth. As the industry continues to evolve, the insights provided by LE offer valuable information for decision-makers and stakeholders looking to navigate this ever-changing landscape.

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