New York City Leads U.S. With 2022 New Openings
Skift Take
- According to the third quarter United States Construction Pipeline Trend Report from Lodging Econometrics, the U.S. market with the largest hotel construction pipeline by projects is Dallas.
- Despite down markets, lodging stocks were modestly higher even though the two biggest movers were to the downside.
- BWH Hotel Group announced the launch of a new extended stay brand.
The DJIA fell 129 points while Nasdaq was down 114, the S&P 500 fell 29 points and the 10 year treasury yield was up .07 to 4.08%. Despite the down markets, lodging stocks were modestly higher even though the two biggest movers were to the downside. SLNA was down another -15%, ABNB fell -7% but VCSA was up 6% and MCG and AHT both rose 5% on the day.
According to the third quarter United States Construction Pipeline Trend Report from Lodging Econometrics, within the first three quarters of 2022, the markets with the greatest number of new openings are New York City, Austin, Nashville, Atlanta and Detroit.
Pipeline MarketProjectsRoomsDallas17420,676Atlanta13917,843Los Angeles11819,062Phoenix11315,508New York10217,805 Under Construction MarketProjectsRoomsNew York6911,7781Atlanta253,798Phoenix245,126Dallas233,390Austin223,135 Starting in Next 12 Months MarketProjectsRoomsAtlanta638,026Dallas637,355Phoenix535,837Los Angeles487,461Houston364,227 Early Planning Stage MarketProjectsRoomsDallas889,931Los Angeles518,668Atlanta516,019Orlando468,039Nashville445,519BWH Hotel Group announced the launch of a new extended stay brand. The parent company of Best Western Hotels & Resorts, SureStay Hotel Group and WorldHotels Collection unveiled Home by BWH, a midscale extended-stay brand. BWH has other extended stay brands, Executive Residency by Best Western which has eight hotels, four of them in the US, two in Canada and a hotel each in Kenya and Netherlands. SureStay Studio by Best Western has seven locations.
Innisfree Hotels’ plans to build a 12-story hotel next to Crabs on the Beach are still in full-motion, but they will not include a rooftop helipad. The Santa Rosa Island Authority (SRIA) board voted unanimously against the helipad at their latest meeting. The conceptual plan presented to the SRIA earlier this year included renovations to the Hampton Inn on Pensacola Beach and a brand-new tower next door that would include 89 hotel rooms, 16 luxury condos, a pool deck and bar, a 250-space parking garage and the controversial rooftop helipad. The project was e
