Debuting for the first time this quarter is LE’s 2021 Forecast for New Hotel Openings. According to analysts at Lodging Econometrics (LE), the forecast for new hotel openings in 2021 is anticipated to be 1,206 projects/139,793 rooms in the United States. This is in support of the current construction pipeline, which stands at 5,653 projects/693,207 rooms, up 6% by projects from Q2 2018’s 5,312 and 9% by rooms from 634,501.
The first half of 2019 saw 456 hotels/53,427 rooms open in the U.S. with another 599 projects/66,300 rooms forecast to open by year-end. The total 2019 forecast of 1,055 projects/119,727 rooms, represents an 11% increase over the actual number of hotels opened in 2018 which finished with 954 hotels/112,329 rooms. Next year is anticipated to open 1,161 projects/129,531 rooms.
When analyzing the top 50 markets and other U.S. markets, we can expect the top 25 markets, which have been determined by pipeline project counts, to cumulatively open 402 hotels/51,883 rooms in 2019, another 454 projects/56,763 rooms in 2020 and 454 projects/58,199 rooms in 2021. In 2019, the top 25 markets account for 43% of the hotels forecasted to open in the U.S.
For the markets ranked 26-50 by pipeline project count, LE is expecting 184 projects/21,737 rooms to open in 2019, 210 projects/23,727 rooms in 2020 and another 192 projects/23,120 rooms in 2021. The top 50 markets collectively account for 61.5% of the industry’s forecasted openings in 2019, 62.1% of the openings in 2020 and 58.2% of the forecasted new hotel openings in 2021.
For more information on LE’s forecast for the next few years for the lodging industry, please contact us. LE can help you understand new hotel supply additions in any country or city across the world. We can provide you with every new construction project, announced renovation, brand conversion, and open & operating hotel, delivered in our database of hotel records. All records include contact information for developer, ownership, and management groups. On a weekly basis, LE will update all previously delivered records and provide you with all newly announced construction projects into the pipeline. LE’s database can serve as your stand-alone client relationship management (CRM) platform, or it can be integrated into your existing CRM or Salesforce platform.
Phone (603) 431-8740 or email: [email protected]
JP Ford, ISHC, SVP, director of global business development, Lodging Econometrics
Bruce Ford, SVP, director of global business development, Lodging Econometrics
Tom O’Gorman, VP of sales, Lodging Econometrics
April Bedell, sales account executive , Lodging Econometrics