Data from Lodging Econometrics shows Dallas leads the way at the end of Q2 2023 with a surprising number of new construction projects.
At the end of the second quarter of 2023, Dallas remains the top U.S. market for hotel development, according to data from Lodging Econometrics.
Dallas’ hotel development activity at the end of the second quarter shows 217 projects and 27,188 rooms. Of those projects, 184 are new construction while 33 are renovations or conversions.
Atlanta was second in the U.S. with 180 total projects and 22,225 rooms, Los Angeles was third (137 projects/22,381 rooms), Phoenix was fourth (136 projects/19,857 rooms) and the Inland Empire of California was fifth with (134 projects/14,192 rooms.)
At the end of Q2, the United States had 7,511 projects and 913,534 rooms in its hotel development pipeline. Of those projects, 854 are renovations, 1,085 are conversions, and 5,572 are new construction. The top 50 markets in the U.S. have 3,486 of the developments overall or 46% of the projects in the pipeline.
Top five hotel development markets (U.S.)
Here's a more detailed look at the top five markets.
|Inland Empire, CA
Copyright 2023 Northstar Travel Media LLC. All rights reserved. From https://www.hotelinvestmenttoday.com. By Rob Schneider.