In the US trend report on the construction pipeline of Hotel Econometrics (LE) to the quarter ending February 2023, five areas with the highest hotel construction pipelines comprise Dallas with record-breaking 184 projects/21,501 rooms. Atlanta with 17,993 rooms and 141 projects, Phoenix with 119 projects and 107 rooms. Nashville has 116 plans/15,346 bedrooms, along with Los Angeles with 112 projects/17,797 rooms.
The top markets for projects in the process of construction as of the close of Q2 is New York with 47 projects/8,201 rooms, along with Phoenix with 29 projects and 6,064 rooms. Dallas has the highest number of projects set to begin in the coming twelve months with 69 projects/8,045 rooms, and is then Atlanta which has 66 initiatives/7,932 rooms, as well as The Inland Empire market with 48 projects/4,946 rooms. Markets with the highest amount of projects that are in the early stages of planning are headed by Dallas, with 90 projects and 104 rooms. Los Angeles with 52 projects/863 rooms, and Nashville with 51 projects and 6,009 rooms.
LE has recorded a total renovation and conversion pipeline of 1,939 construction projects and 253,473 rooms across the U.S. at the Q2 end. The areas with the highest amount of conversions and renovations are Atlanta, with 39 projects and 4,232 rooms. Chicago, which has 36 rooms/4921, along with Dallas, with 33 projects and 5,687 rooms.
As to the first quarter, there was a significant increase in the Inland Empire market has the most projects that have been announced for the pipeline. It has 7 projects and 791 rooms. This is then Tampa with 6 projects and 986 rooms, in addition to Nashville with 6 projects and 803 rooms.
In the first quarter of 2023 in 2023, the U.S. opened 224 new hotels/27,194 rooms. Then there are 384 hotels/48,607 rooms set to be open by the end of the year. As a result of the pipeline’s current state, L.E.’s forecast for new hotel openings will continue to increase throughout 2025.
At the end of Q2, one of the 25 most popular markets within the U.S. are forecast to open 40 percent of the rooms that are expected to be open by the end of the year. 26 percent of the hotels that are scheduled to open by 2023’s end are located in 10 markets. Of these ten markets, those with the largest number of hotels that are expected to open in 2023 are followed by New York with 42 projects/7,192 rooms. Then comes Inland Empire, with 16 projects and 1,369 rooms. Inland Empire market with 16 projects and 1,564 rooms. Then there’s Austin, with 14 projects and 2,021 rooms. Atlanta, which has 14 rooms/1,369 projects, along with Dallas, with 13 projects and 2,100 rooms.
By 2024 Atlanta could be at the top of the list of hotel openings, with 20 projects and 3,198 rooms, followed by Phoenix with 19 projects/ 3,480 rooms, as well as Dallas with 19 projects and 2,159 rooms.
In the year 2025, Atlanta will again lead new hotel openings. Atlanta is expected to lead with 24 projects with 1,829 rooms scheduled to be open, followed by Dallas with 23 projects and 1,343 rooms, as well as in the Inland Empire market with 18 projects/ 1,844 rooms.
A building with eight stories located at Vancouver Community College will feature the latest in electric/hybrid automotive technology that will teach students how to service as well as maintain vehicles powered by electric power and educate them on renewable energy sources. The 343,832-square-foot Center of Excellence in Clean Energy and Automotive Innovation that is being designed by Stantec will include laboratories, classrooms, libraries, and a learning center as well. As the space will also include an Indigenous area for gathering, offices for administration, as well as a number of learning spaces that collaborate. The space will also be devoted to fashion and design, media jewelry, CAD/BIM, and other areas.
The building is designed to promote sustainability, both in the design process and in the learning and teaching which will be offered within. The building will be fitted with robust HVAC systems that adapt to changes in the climate and use mass timber as the main building material for the atrium area. Designers are aiming for a low carbon embedded in the structure and comply with British Columbia’s Step Code 2, LEED Gold Certification, along with Rick Hansen Foundation Gold certifications requirements.