Project Management Advisors, Inc.’s Post

The U.S. hotel construction pipeline hit record highs in Q2 2024, with a 9% year-over-year growth, totaling 6,095 projects and 713,151 rooms. Extended stay and upper midscale segments continue to lead, with Dallas topping the list for the largest pipeline. Looking ahead, 400 more hotels are expected to open by year-end, pushing 2024's total well above 2023 levels. Major brands like Marriott, Hyatt, and Wyndham are actively expanding their midscale and upscale offerings, fueling this growth trend.

Hotel Construction: Building Hospitality from the Ground Up. Common Challenges in Hotel Construction https://lnkd.in/e_fr4Jws

US Hotel Construction Pipeline Reaches New Heights! In Q2 2024, the U.S. hotel construction pipeline hit a record high with 6,095 projects and 713,151 rooms, marking a 9% increase from the previous year. Extended stay hotels remain highly favored, while the upper midscale segment leads in project numbers. Dallas leads the market with the largest pipeline, followed by Atlanta, Inland Empire, Nashville, and Phoenix. Extended stay projects comprise a significant portion of the pipeline, with major brands like Marriott Hotels, Hyatt Hotels Corporation, and Wyndham Hotels & Resorts expanding in this segment. By year-end 2024, 400 additional hotels are expected to open, contributing to a 35% increase in openings compared to 2023. The pipeline is projected to continue growing, with 779 hotels anticipated in 2025 and 928 in 2026. Learn More Here: https://lnkd.in/gd48Uvkr Hotel Dive Jenna Walters Branded Hospitality Ventures Hospitality Hangout Podcast #Hotels #hospitality #construction #growing #marketing Caroline Fall Peggy Roe Ty Breland Josh Fluhr Glenn Stress Mary Grace Fisher Christopher Finelli Mark Hoplamazian Amit Sripathi Dana Rosenberg

𝐓𝐡𝐞 𝐔.𝐒. 𝐡𝐨𝐭𝐞𝐥 𝐜𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐩𝐢𝐩𝐞𝐥𝐢𝐧𝐞 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐝 𝐢𝐭𝐬 𝐮𝐩𝐰𝐚𝐫𝐝 𝐭𝐫𝐞𝐧𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐞𝐜𝐨𝐧𝐝 𝐪𝐮𝐚𝐫𝐭𝐞𝐫 𝐨𝐟 𝟐𝟎𝟐𝟒, 𝐫𝐞𝐚𝐜𝐡𝐢𝐧𝐠 𝐚 𝐧𝐞𝐰 𝐫𝐞𝐜𝐨𝐫𝐝 𝐡𝐢𝐠𝐡. ⬇️ According to Lodging Econometrics, there were 6,095 hotel projects in the pipeline at the end of the quarter, representing a total of 713,151 rooms. This marks an 8% increase in rooms and a 9% increase in projects compared to the same period last year. While the quarter-over-quarter growth was modest at 0.5%, the year-over-year data reveals a robust pipeline. The number of hotels currently under construction climbed 10% compared to the previous year, and projects set to begin construction within the next 12 months rose by 5%. Additionally, early-stage planning for new hotels increased by 13% year-over-year. 𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐟𝐮𝐥𝐥 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐡𝐞𝐫𝐞: https://lnkd.in/eqdPk5qN #BuildingGreatTeamsTogether

Some insights into new hotel construction and forecast for 2024. #construction #hotelconstruction

US Hotel Construction Pipeline Reaches New Heights! In Q2 2024, the U.S. hotel construction pipeline hit a record high with 6,095 projects and 713,151 rooms, marking a 9% increase from the previous year. Extended stay hotels remain highly favored, while the upper midscale segment leads in project numbers. Dallas leads the market with the largest pipeline, followed by Atlanta, Inland Empire, Nashville, and Phoenix. Extended stay projects comprise a significant portion of the pipeline, with major brands like Marriott Hotels, Hyatt Hotels Corporation, and Wyndham Hotels & Resorts expanding in this segment. By year-end 2024, 400 additional hotels are expected to open, contributing to a 35% increase in openings compared to 2023. The pipeline is projected to continue growing, with 779 hotels anticipated in 2025 and 928 in 2026. Learn More Here: https://lnkd.in/eVndximK Hotel Dive Jenna Walters Branded Hospitality Ventures Hospitality Hangout Podcast #Hotels #hospitality #construction #growing #marketing Caroline Fall Peggy Roe Ty Breland Josh Fluhr Glenn Stress Mary Grace Fisher Christopher Finelli Mark Hoplamazian Amit Sripathi Dana Rosenberg

According to HotelNewsResource.com, the future of US hotel construction looks bright! This promising trend is great news for the construction market, offering new opportunities for growth and innovation. #HotelConstruction #ConstructionGrowth #HospitalityIndustry #BuildingInnovation

Article of The Week: By Kathakali Nandi | hotelsmag | May 30, 2024 Full-service hotels dominate global construction pipeline Global hotel construction pipeline posted a healthy growth in the first quarter and touched a new high for room counts, signaling an impressive jump in full-service projects, a recent study has revealed. According to the latest report from Lodging Econometrics (LE), the total global hotel pipeline increased by 6% in projects and 3% in rooms YOY to stand at 15,366 projects/2,382,195 rooms. By the end of Q1 2024, there are 6,195 projects/1,101,602 rooms under construction across the world. In the next 12 months, 3,840 projects/528,251 rooms are anticipated to start construction, representing an increase of 8% by projects and 5% by rooms YOY. Projects and rooms in the early planning stages also soared to new levels, standing at 5,331 projects/752,342 rooms (up 12% and 9% YOY, respectively). The top end of the chain scale saw a considerable increase in developments. Although it is a comparatively smaller part of the overall hospitality portfolio, the sector is witnessing strong investment activity globally. Read More: https://lnkd.in/eSCKJDrX

HotelManagement.net reports a major expansion in US hotel supply over the next few years. This growth is fantastic news for the construction market, paving the way for new projects and hotel design and development innovation. #HotelDevelopment #ConstructionGrowth #HospitalityTrends #BuildingInnovation

The global hotel construction industry experienced a boom in the fourth quarter of 2023, reaching record levels for the number of projects in the pipeline. Interestingly, the 𝗨𝗻𝗶𝘁𝗲𝗱 𝗦𝘁𝗮𝘁𝗲𝘀 𝗲𝗺𝗲𝗿𝗴𝗲𝗱 𝗮𝘀 𝘁𝗵𝗲 𝗰𝗹𝗲𝗮𝗿 𝗹𝗲𝗮𝗱𝗲𝗿, boasting the highest number of projects compared to any other country. This trend was further amplified within the US itself, with 𝗰𝗶𝘁𝗶𝗲𝘀 𝗹𝗶𝗸𝗲 𝗗𝗮𝗹𝗹𝗮𝘀 𝗮𝗻𝗱 𝗔𝘁𝗹𝗮𝗻𝘁𝗮 𝘁𝗮𝗸𝗶𝗻𝗴 𝘁𝗵𝗲 𝘁𝗼𝗽 𝘀𝗽𝗼𝘁𝘀 for the most active hotel construction globally. This surge in hotel development suggests a potential increase in hotel room availability and potential changes in the hospitality landscape in the coming years. #Construction #Hospitality #BuildingGreatTeamsTogether