New York Has the Most New Hotel Openings Forecasted for 2017 & Marriott Has Largest Construction Pipeline
PORTSMOUTH, NH. May 18, 2017 - Analysts at Lodging Econometrics (LE) report that the five markets with the largest hotel construction pipelines by project count are: New York with 185 Projects/29,447 Rooms; Houston with 158 Projects/17,475 Rooms; Dallas with 141 Projects/17,869 Rooms; Nashville with 124 Projects/15,614 Rooms; and Los Angeles with 111 Projects/17,701 Rooms.
New York has the most New Hotel Openings forecasted for 2017 of any market with 47 Hotels/7,534 Rooms. Then Dallas, which is forecasted to open 44 Hotels/5,050 Rooms, Houston with 33 Hotels/3,505 Rooms, Austin with 21 Hotels/2,321 Rooms and Los Angeles with 20 Hotels/4,202 Rooms.
The markets with the most New Project Announcements into the Pipeline in the first quarter were: Dallas with 18 Projects/2,282 Rooms, New York with 16 Projects/2,510 Rooms, Orlando with 14 Projects/1,837 Rooms, Tampa with 13 Projects/1,313 Rooms and Kansas City with 11 Projects/1,288 Rooms.
Marriott International currently has the largest and most active pipeline by room-count of any franchise company with 163,063 Rooms/1,264 Projects. Their largest brands in the Pipeline are; Fairfield Inn with 27,220 Rooms/285 Projects, Residence Inn with 23,725 Rooms/188 Projects and TownePlace Suites with 18,450 Rooms/180 Projects.
Marriott also has the most rooms currently Under Construction with 65,924 Rooms/487 Projects, which represents over 1/3 of all Pipeline rooms Under Construction. Additionally, they have the most rooms Scheduled to Start Construction in the Next 12 Months with 78,404 Rooms/637 Projects. And in Early Planning, Marriott has 17,117 Rooms/140 Projects.
In the first quarter, Marriott opened 64 new hotels with 7,187 rooms, just under 30% of all new rooms opened in Q117. The brands with the largest number of new hotels opened are Fairfield Inn with 1,499 Rooms/16 Hotels and Courtyard with 1,411 Rooms/13 Hotels.
About Lodging Econometrics
Lodging Econometrics (LE) is the lodging industry's leading consulting partner for global real estate intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable insights that turn their clients' business goals into timely opportunities.
Contact:
Emily Dennison
edennison@lodgingeconometrics.com
+1 603.427.9544
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
