Construction boom is led by New York, followed by Las Vegas, Dallas, Los Angeles/Long Beach and Orlando >>
by: BTE
The US hotel industry reported a 4.5 percent increase in rooms in construction in January compared with January 2018, according to STR. The company reported that 1,560 properties with 195,580 rooms were in construction; 1,563 hotels with 187,976 rooms in final planning; and 2,456 hotels with over 266,000 rooms in planning. The top five markets for development were: New York with 13,986 rooms in construction (11.4 percent of existing supply); Las Vegas with 8,000 rooms in construction (4.8 percent); Dallas with 6,621 rooms in construction (7.4 percent); Los Angeles/Long Beach with 5,798 rooms in construction (5.5 percent); and Orlando with 5,719 rooms in construction (4.5 percent). Europe reported 162,372 rooms in construction, according to the report. Germany led the way with 46,498 rooms in construction, or 7 percent of existing supply. The Middle East reported a 21 percent year-over-year increase in the number of rooms in construction (127,115) through January, according to STR pipeline data. Africa, meanwhile, reported a 4.2 percent increase in rooms in construction (27,124).
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