In the most recent Lodging Econometrics (LE) Construction Pipeline Trend report on New York City, LE states that New York City has a total of 155 projects/26,605 rooms in the construction pipeline, one of the top three largest pipelines in the U.S. Of this total, hotels presently under construction are at 102 projects/17,504 rooms, projects scheduled to start construction in the next 12 months are at 23 projects/3,637 rooms, and those in early planning are at 30 projects/5,464 rooms.
The three market tracts with the largest hotel construction pipelines are: Midtown South, the area between 24th and 36th Streets, with 33 projects/7,620 rooms; the greater New York City Area, which includes Brooklyn, the Bronx, and Staten Island, with 28 projects/2,436 rooms; and the East River area, which includes Queens and Brooklyn West, with 27 projects/4,499 rooms. These three important market tracts combined account for 55% of the rooms in New York City’s total construction pipeline.
The market tracts with the most projects presently under construction are Midtown South with 25 projects/6,012; the East River area with 18 projects/2,925 rooms; and JFK/Jamaica, which includes the area of Queens from the Grand Central Parkway south, the JFK Airport area and Jamaica, with 15 projects/2,055 rooms.
LE’s forecast for new hotel openings predicts that New York City will lead the nation for new hotel openings in 2019 with 41 projects/6,809 rooms. In 2020, New York is again forecast to top the list of new hotel openings with 61 projects/8,283.
Related Stories
Codes and Standards | Jul 20, 2017
New tallest tower west of the Mississippi built to stringent seismic standards
L.A.’s new 1,100-foot skyscraper dominates city’s skyline.
Codes and Standards | Jul 20, 2017
Chicago rises to the top of U.S. cities in percentage of LEED or Energy Star office buildings
Certified office buildings reach 66% in windy city.
Codes and Standards | Jul 19, 2017
Economic impacts of climate change will jump over next two decades
Average annual cost to buildings and infrastructure from eastern storms to rise by $7.3 billion.
Codes and Standards | Jul 18, 2017
Energy modeling yields accuracy within 4%, says new study
Results of the study support the usefulness of the practice.
Codes and Standards | Jul 13, 2017
Net Zero Energy rebranded as ‘Zero Energy’
ILF aims to make new certification the sole standard for highest performing buildings.
Codes and Standards | Jul 13, 2017
New York City creates $10 million fund to help women- and minority-owned firms win construction contracts
The money is earmarked for up to $500,000 surety bonds per contract.
Codes and Standards | Jul 12, 2017
New International Building Code allows weather-resistive barriers above 40 feet
Danger of propagating flames now deemed negligible.
Codes and Standards | Jul 10, 2017
New mass plywood panel project moves ahead with federal grant
New material is substitute for concrete and steel in multi-story projects.
Codes and Standards | Jul 6, 2017
Trump ups ante on apprenticeships, gives private sector more room to design them
Initiative aimed at alleviating construction industry worker shortage.
Codes and Standards | Jul 6, 2017
Flawed modeling to blame for green buildings failure to live up to hype on energy efficiency
Explains energy performance gap from expected savings to actual savings.