In line with the Q3 2024 U.S. Resort Development Pipeline Development Report from Lodging Econometrics (LE), on the shut of the quarter, the 5 markets with the most important lodge development pipelines had been led by Dallas with a record-high of 194 initiatives and 22,803 rooms, adopted by Atlanta with a record-high 166 initiatives accounting for 19,174 rooms, Nashville with a record-high 130 initiatives and 16,966 rooms, Phoenix with 123 initiatives/15,999 rooms, and Austin with a record-high 119 initiatives accounting for 13,962 rooms. These high 5 markets mixed accounted for 732 initiatives/88,904 rooms.
In Q3, 5 U.S. markets stood out for his or her lively under-construction lodge initiatives. New York leads with 42 initiatives/6,771 rooms, adopted by Dallas with 30 initiatives/3,443 rooms. Atlanta was third with 26 initiatives/3,001 rooms, whereas Phoenix and Nashville adopted with 25 initiatives/4,522 rooms and 23 initiatives/3,269 rooms, respectively.
Dallas, with 73 initiatives/8,708 rooms, had probably the most initiatives scheduled to begin within the subsequent 12 months. Following Dallas are Atlanta with 62 initiatives/7,708 rooms, Inland Empire with 57 initiatives/5,670 rooms, Phoenix with 55 initiatives/6,620 rooms, and Austin with 49 initiatives/5,797 rooms.
Dallas additionally topped the checklist of markets with probably the most lodge initiatives within the early starting stage in Q3, together with 91 initiatives that can add 10,652 rooms. Atlanta adopted with 78 initiatives set to deliver 8,465 rooms, whereas Nashville had 64 initiatives totaling 7,885 rooms. Austin and Los Angeles rounded out the highest 5, with Austin at 55 initiatives/6,434 rooms and Los Angeles at 51 initiatives/8,491 rooms.
Within the third quarter, LE recorded a mixed U.S. renovation and conversion whole of 1,969 lively initiatives with 262,048 rooms. The markets with the most important mixed variety of renovations and conversions in Q3 had been Chicago with 34 initiatives/7,704 rooms, Atlanta with 31 initiatives/4,557 rooms, Phoenix with 29 initiatives/5,267 rooms, Washington, DC-MD-VA with 29 initiatives/4,452 rooms, and Los Angeles with 28 initiatives/4,468 rooms.
4 hundred one new mission bulletins (NPAs), accounting for 42,413 rooms, had been introduced in the course of the third quarter. In Q3, Dallas, with 15 initiatives/1,549 rooms, had the most important variety of new initiatives introduced into the pipeline, adopted by Atlanta with 11 initiatives/1,104 rooms, Austin with 9 initiatives/909 rooms, Nashville with 8 initiatives/1,142 rooms, and Fort Value-Arlington with 7 initiatives/1,145 rooms.
In line with LE analysts, 408 new accommodations with 48,258 rooms opened in the US by means of Q3 2024. Of those openings, 67 % of accommodations (60 % of rooms) had been in suburban areas, and 47 % of accommodations (54 % of rooms) had been within the high 50 markets.
The LE forecast for brand new lodge openings for the rest of 2024 in the US consists of a further 223 accommodations with 23,902 rooms, bringing the year-end 2024 projection to 631 new accommodations with 72,160 rooms to open. The New York market is forecast to open 20 new accommodations/2,181 rooms, adopted by Atlanta and Dallas every with 16 new accommodations (2,898 and a couple of,045 rooms respectively), Orlando with 13 new accommodations/2,398 rooms, and Indianapolis with 12 new accommodations/1,347 rooms.
Wanting forward, LE forecasts 759 new lodge openings/86,264 rooms in 2025 and 938 new lodge openings/101,017 rooms in 2026. For 2025, New York leads with 23 new accommodations/3,147 rooms forecast to open, adopted by Nashville and Dallas every with 18 new accommodations (2,463 and 1,820 rooms respectively), Phoenix with 17 new accommodations/2,864 rooms, and Inland Empire with 16 new accommodations/1,530 rooms. In 2026, LE analysts forecast 938 new accommodations/101,017 rooms to open in the US.
