NEW YORK CITY LEADS WORLD’S HO­TEL PIPE­LINE

Business Traveler (USA) - - UPFRONT -

NewYork City has the largest ho­tel pipe­line in the world with an un­prece­dented 180 new projects adding 30,304 rooms, more than half of which are al­ready un­der con­struc­tion. This ac­cord­ing to Lodg­ing Econo­met­rics, a ho­tel in­dus­try real es­tate con­sul­tancy.

The to­tal US ho­tel con­struc­tion pipe­line con­tin­ued its up­ward trend in first quar­ter 2014 and now stands at 3,226 projects gen­er­at­ing 407,235 additional rooms. That’s a 13 per­cent year-overyear in­crease in projects and 15 per­cent in to­tal rooms – the sec­ond con­sec­u­tive quar­ter that new ho­tel ac­tiv­ity has posted a dou­bledigit per­cent­age in­crease.

Of pipe­line rooms un­der con­struc­tion, nearly half (44.2 per­cent) are con­cen­trated in the largest 25 mar­kets. Af­ter NewYork, Wash­ing­ton is the next most ac­tive mar­ket with 85 projects ei­ther pro­posed or un­der con­struc­tion adding 14,948 rooms. Hous­ton, with the grow­ing de­mand from the en­ergy sec­tor, has 100 projects gen­er­at­ing 11,375 rooms, fol­lowed by Los Angeles with 60 projects, Chicago with 42 projects and Mi­ami, with 54 projects.

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