The volume of hotel rooms currently being built in the United States hit its highest level in 16 months, according to CoStar’s latest June 2024 data. While globally, the real estate information and analytics company finds hotel construction has dropped or leveled off, the U.S. has more than 157-thousand rooms under construction, and another 600,000 in the planning stages.
Even though numbers have not fully rebounded to pre-pandemic levels (the U.S. peaked at 220,000 new rooms opened in April 2020), they demonstrate strong demand despite the headwinds of inflation and high interest rates.
U.S. Cities Leading the Hotel Growth
According to a recent Lodging Econometrics report, Dallas dominated the U.S. charge with 22,392 rooms in the works. It’s the fastest-growing metro area in the U.S., and there are 189 new projects on the horizon.
Dallas is followed by Atlanta, the third-fastest growing metro area in the U.S., which has 159 new projects planned, comprised of 18,522 rooms.
California’s Inland Empire set a new record with 124 …