2.5% Growth Rate of New Hotel Openings Expected in 2018 & 2019
February 1, 2018 11:21am
February 1, 2018 – PORTSMOUTH, NH – By the end of 2018, the Census of Open & Operating Hotels in the U.S. is expected to grow by 2.5% with 1,145 Projects/130,209 Rooms opening up according to published reports from Lodging Econometrics (LE). Of those expected to open, 514 Projects/50,165 Rooms will be Upper Midscale, the highest count of any chain scale and 45% of all new openings. 556 Projects/59,309 Rooms, almost 50% of new openings, will be suburban locations although the U.S. market with the most anticipated openings is New York with 57 projects/9,534 Rooms.
In 2019, the Census is expected to grow another 2.5% by opening 1,209 Projects/137,546, about 6% more projects than are anticipated to open in 2018. In 2019, New York is again the top market for New Hotel Openings with 37 Projects/4,601 Rooms. Upper Midscale remains the top chain scale for new openings with 573 Projects/55,660 Rooms and Suburban markets may see 661 Projects/69,715 Rooms open up.
Tags: lodging econometrics,
u.s. construction pipeline,
u.s. hotel openings
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
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