After seeing planned projects scaled back or outright cancelled due to the Covid-19 outbreak, new hotel construction projects are expected to increase in the coming months, according to data released by the company Lodging Econometrics. “Pandemic exhaustion and pent-up demand for ‘get-aways’ have led to a growing number of Americans becoming more open to travel,” notes the report, remarking: “In addition to leisure travel, the business sector has a strong desire to travel and meet in person.” The hospitality information service based in Portsmouth, New Hampshire, is reporting that as of the end of last year the total national hotel construction pipeline amounted to just over 4,800 projects, a decrease of 8% over the same time period in late 2020. At the same time, the number of projects in the planning stage saw an increase of 18% in the final quarter of 2021 over the last four months of 2020. Altogether, it is expected that around 783 hotels will go up before the end of this year, accounting for just over 90,000 new rooms. For 2023, Lodging Econometrics is forecasting the completion of another 820 projects, comprising 93,100 rooms. By Garry Boulard
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