U.S. Hotel Construction Down Slightly in Q3
According to the U.S. Hotel Construction Pipeline Trend Report by Lodging Econometrics, Q3 hotel projects stood at 5,282, down 7% compared to the same quarter in 2019. Hotel rooms totaled 655,026, 6% lower than Q3 2019. Dallas led the number of projects with 154 projects and 18,592 rooms, followed by Los Angeles, New York City, Atlanta and Houston. The decreased numbers were related to COVID-19 pandemic project delays and cancellations. As of Q3, 191 projects totaling 21,859 rooms have been cancelled. At the end of the quarter, there were 1,259 hotels, representing 207,544 under renovation or conversion.
In 2021, the forecast includes 960 projects with 113,247 rooms to be completed, compared to an estimated 925 with 104,036 rooms at the end of 2020. See Lodging Econometrics