U.S. Hotel Development Pipeline Is in Good Shape With Dallas Booming

Skift grip

This year, 762 American hotels are expected to open. Dallas attracted the most development, followed by Atlanta and Los Angeles.

Sean O’Neill

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sunday april 24

The study at the University of Chicago is in its soft opening phase in its 12-story, 167-unit building on the Midway. The property, located next to Forum Rubenstein, includes fitness, ballroom and conference spaces, as well as a tavern-style restaurant that will open by the end of the 2021-2022 academic year. The hotel’s conference spaces include one larger space and four smaller spaces. The main ballroom space includes a full bar and two patios. This establishment is the third development of the Study Hotels brand, a subsidiary of Hospitality 3 which develops properties adjoining university campuses.

Monday April 25

the Phuket Hotel Market Update 2022 from C9 Hotelworks Suggests that over 73% of new hotel developments in Phuket, Thailand are either dormant or on hold. Negative sentiment and stressed cash affected the development, which saw incoming supply of 33 properties with 8,616 rooms facing an uncertain future. Around 55% of hotel projects are mixed or hotel residences with rental investment programs targeting individual buyers. C9 said some of the real estate hospitality projects may not return to the pipeline

According to Lodging Econometrics Q1 2022 US Construction Pipeline Trend Report, the total construction pipeline for the United States stands at 5,090 projects/606,302 rooms at the end of the first quarter of 2022, showing a slight increase year-over-year, up 2% per project , but down 3% per room. There are also a total of 1,420 projects/184,692 rooms under renovation or conversion in the United States during the first quarter, with project conversions and room conversions increasing by 59% per project and 48% by rooms YOY. LE’s forecast for new hotel openings by projects has increased for 2023. For the rest of the year, LE expects another 649 projects/77,568 rooms to open for a total of 762 hotels/90,032 rooms in 2022 In 2023, LE plans another 839 hotels/93,169 rooms.

Housing econometrics says that at the end of the first trimester, dallas leader on all American markets in number of projects in progress with 165 projects/19,730 rooms. After Dallas were Atlanta with 135 projects/17,646 rooms; Los Angeles with 123 projects/20,176 rooms; New York with 122 projects/20,864 rooms; and Phoenix with 103 projects/13,820 rooms.

tuesday 26 april

VNA reported tourism in Vietnam returns to the new normal and the resort real estate market begins to rebound after a two-year hiatus. The branded leisure real estate trend is growing, particularly with the involvement of big name brands to help improve project quality, attract capital flows and improve the value of long-term investment properties. CBRE believes that the pandemic has caused a shift, with investment in the resort property market shifting from traditional markets such as Da Nang and Khanh Hoa to new locations like Ba Ria-Vung Tau and Binh Thuan. In addition, the construction of key infrastructure projects such as Long Thanh International Airport, Phan Thiet Airport and Phan Thiet-Dau Giay Expressway have helped create favorable conditions for the two localities. Ba Ria-Vung Tau has three new projects opened for sale for the first time, namely Hyatt Regency ho Tram Residences, Ixora Ho Tram by Fusion and Venzia Beach Binh Chau with a total of 382 villas. NovaWorld Ho Tram has also opened a new phase of Habana Island for sale with 372 villas. Binh Thuan also has a new offer with 270 villas from the NovaWorld Phan Thiet project.

Kerzner International Holdings Limited announced the launch of Rare finds; A diverse collection of resorts celebrating the individuality of each property, showcasing their unique identity, location, flair and flair, with a distinct ability to capture the imagination, provoke thought and elevate a destination through to transformative experiences, unparalleled food and beverage offerings and entertainment. As part of this new vertical, Kerzner assumed management of Bab Al Shams, the quintessential Dubai desert resort, owned by Meydan. The complex will close for an extensive reimagining on May 8, 2022 and reopen again in early 2023, reopening as part of Rare Finds. The renovations will introduce a completely renewed aesthetic while retaining the resort’s authentic equestrian identity, according to Kerzner’s press release. There will be world-class culinary experiences such as modern Arabic cuisine, a rooftop lounge and al fresco dining. The much-loved Desert Infinity Pool will also be back.

Wednesday April 27

GoSTOPSa brand of leisure hostels, decided to open three new properties – Ooty, Coorg and Auroville, located in Karnataka and Tamil Nadu, to expand its nationwide footprint in India and operational network by next month. With this, the total number of operating sites in its network will be increased from 28 to 30. The goSTOPS Ooty will include a heritage block colonial bungalow located on the road to Gymkhana Golf Club and will offer over 76 beds and dormitories; goSTOPS Coorg will include over 82 beds while goSTOPS Auroville will have 56 beds. By 2024, goSTOPS aims to reach the 31,000 bed mark and a foray into Southeast Asian countries, including Sri Lanka and Nepal. The brand has recently added new and second properties in select locations such as Mussorie, Kasol and Bangalore.

Thursday April 28

SC Capital Partners based in Singapore secured commitments from two global institutional investors for 122 billion yen, or $951 million, for its new Japan Welcome Fund. The fund will focus on acquiring minor repositionings and operating hotel-related investments in Japan. This will include real estate trusts, beneficial interests representing real estate, REITs and other corporations. The initial commitment was for US$47 million, with another additional option to increase the commitments to US$951 million.

Hotels in the UAE hosted 19 million tourists in 2021, according to the Emirates Tourism Board. The country’s hotels welcomed 29% more visitors in 2021 than in 2020 and generated revenues of $7.6 billion, up 70% from 2020. Domestic tourists accounted for 58% of the total number of clients. The council said this shows a full recovery of the domestic tourism sector. More than 75 million hotel nights were booked last year, up 42% year-on-year, while occupancy reached 67%, one of the highest by compared to the main tourist destinations of the world. The number of hotels in the United Arab Emirates increased by 5% year-on-year to reach 1,144 in 2021, while the number of hotel rooms increased by 8% to 194,000 rooms nationwide. JLL released a report stating that the completion of approximately 3,500 rooms and suites in Dubai projects resulted in total inventory reaching 144,000 in the first quarter of 2022, with occupancy rates up more than 77% in January and February. In Abu Dhabi, the occupancy rate was 75% in the first two months of this year.