In the most recent Lodging Econometrics (LE) Construction Pipeline Trend report on Los Angeles, LE states that Los Angeles has a total of 168 projects/28,501 rooms in the construction pipeline, the largest pipeline of any market in the U.S. Of this total, hotels presently under construction are at 46 projects/7,064 rooms, projects scheduled to start construction in the next 12 months are at 56 projects/9,199 rooms, and those in early planning are at 66 projects/ 12,238 rooms. If all of the projects in the pipeline come to fruition, this will increase the city’s guest room supply by 27.1%.
The three market tracts with the largest hotel construction pipelines are: Los Angeles Central Business District with 47 projects/11,490 rooms; Los Angeles East with 32 projects/4,418 rooms; and Los Angeles North with 29 projects/3,037 rooms. These three important market tracts combined account for 67% of the rooms in Los Angeles’ total construction pipeline.
The market tracts with the most projects presently under construction are Los Angeles North with 12 projects/1,153 rooms; Los Angeles Central Business District with 10 projects/2,208 rooms; and Los Angeles East with 8 projects/1,333 rooms.
LE’s forecast for new hotel openings predicts that in 2020, Los Angeles will have a growth rate of 2.5% with 19 new hotels/2,589 rooms opening. In 2021, Los Angeles is forecast to jump to a 4.4% growth rate with 33 new hotels/4,784 rooms expected to open.
Related Stories
Market Data | Feb 4, 2020
Construction spending dips in December as nonresidential losses offset housing pickup
Homebuilding strengthens but infrastructure and other nonresidential spending fades in recent months, reversing pattern in early 2019.
Market Data | Feb 4, 2020
IMEG Corp. acquires Clark Engineering
Founded in 1938 in Minneapolis, Clark Engineering has an extensive history of public and private project experience.
Market Data | Jan 30, 2020
U.S. economy expands 2.1% in 4th quarter
Investment in structures contracts.
Market Data | Jan 30, 2020
US construction & real estate industry sees a drop of 30.4% in deal activity in December 2019
A total of 48 deals worth $505.11m were announced in December 2019.
Market Data | Jan 29, 2020
Navigant research report finds global wind capacity value is expected to increase tenfold over the next decade
Wind power is being developed in more countries as well as offshore and onshore.
Market Data | Jan 28, 2020
What eight leading economists predict for nonresidential construction in 2020 and 2021
Public safety, education, and healthcare highlight a market that is entering growth-slowdown mode, but no downturn is projected, according to AIA's latest Consensus Construction Forecast panel.
Market Data | Jan 27, 2020
U.S. hotel construction pipeline finishes 2019 trending upward
Projects under construction continue to rise reaching an all-time high of 1,768 projects.
Market Data | Jan 24, 2020
U.S. Green Building Council releases the top 10 states for LEED
Colorado leads the nation, showing how LEED green buildings support climate action and a better quality of life.
Market Data | Jan 23, 2020
Construction contractor confidence surges into 2020, says ABC
Confidence among U.S. construction industry leaders increased in November 2019 with respect to sales, profit margins, and staffing, according to the Associated Builders and Contractors Construction Confidence Index.
Market Data | Jan 22, 2020
Architecture Billings Index ends year on positive note
AIA’s Architecture Billings Index (ABI) score of 52.5 for December reflects an increase in design services provided by U.S. architecture firms.
