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Dallas Spearheads U.S. Hotel Expansion Surge with Record-Breaking 194 Projects – Image Credit Unsplash
According to the Q3 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), Dallas is leading a nationwide hotel construction boom, with a record 194 projects set to transform its hospitality landscape. Dallas is followed by Atlanta, Nashville, Phoenix, and Austin, with the five markets accounting for a collective 732 projects and 88,904 rooms.
Regarding active construction, New York is at the forefront with 42 projects, trailed by Dallas with 30. Dallas also leads in projects scheduled to start within the next 12 months and those in the early planning stage, with 73 and 91 projects, respectively.
The report also highlights many property renovations and conversions, with 1,969 active projects across the U.S. Chicago leads this segment, followed by Atlanta, Phoenix, Washington, DC-MD-VA, and Los Angeles.
In the quarter, 401 new project announcements were made, with Dallas topping again with 15 projects. Meanwhile, LE recorded the opening of 408 new hotels across the U.S., with the majority located in suburban areas and the top 50 markets.
LE’s forecast for the remainder of 2024 includes opening an additional 223 hotels, bringing the year’s total to 631 new hotels. The projections for 2025 and 2026 indicate a continuing growth trend, with 759 and 938 new hotel openings, respectively. Dallas, New York, and Nashville are expected to be among the top contributors to this growth.
