NATIONAL REPORT—According to analysts at Lodging Econometrics (LE), through the first half of 2017, 50,521 rooms opened in the U.S. with another 64,385 rooms forecast to open through the rest of the year. The 2017 forecast total, 114,906 rooms, represents a 15% increase by rooms over the actual number of hotel openings in 2016, which stood at 99,872 rooms.
In 2018, new hotel openings are expected to increase another 16% by rooms over the 2017 total with 133,880 rooms forecasted to open. The region expected to see the most openings, 28,100 rooms or 21%, will be the South Atlantic region. Florida, with 10,380 rooms, has the most anticipated openings in that region. The West South Central follows closely behind with 21,993 rooms. The state with the most expected openings in 2018, in that region, is Texas with 15,240 rooms. Other notable regions include the Mid Atlantic with 18,075 rooms and the Pacific with 16,715 rooms. These four regions in the U.S. comprise 63% of the new room hotel openings anticipated for 2018.
Debuting for the first time this quarter is LE’s 2019 Forecast for New Hotel Openings. Analysts at LE are anticipating 137,393 rooms to open in 2019. The region with the most growth by rooms year-over-year (YOY) is expected to be the Pacific region, increasing by 28%. Most new hotel openings in this region are forecasted for California, with 16,966 rooms. The Pacific Region is followed by the East North Central Region with a 20% increase YOY. Other regions will experience nominal increases or decreases YOY in the number of openings expected for 2019.
For more information on LE’s forecast for the next few years for the lodging industry, please contact Lodging Econometrics: (603) 427-9542 or [email protected]. LE can help you understand new hotel supply additions in every market or city across the world. We can provide you with new construction, announced renovation, brand conversion and open and operating hotel information for any market in the U.S., as well as any region, country or market worldwide, just in time for your yearly planning meetings.
—JP Ford, SVP, Director of Business Development, Lodging Econometrics
—Bruce Ford, SVP, Director of Business Development, Lodging Econometrics
—Tom O’Gorman, VP of Sales, Lodging Econometrics
—Rob Lopez, Director of Business Development, Lodging Econometrics