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 | Feb 9, 2017
Google-initiated program aims to get construction industry to use healthier building materials
Portico platform features a database of products ranked on how they disclose ingredients.
Codes and Standards | Feb 7, 2017
Newer structural standards mitigating earthquake impacts in Oklahoma
Buildings constructed in the last two decades are largely holding up to increased seismic activity.
Codes and Standards | Feb 6, 2017
New York State offers $36 million for energy efficiency on commercial buildings
Programs will provide money for both owners and renters.
Codes and Standards | Feb 6, 2017
New white paper on modular bathroom pods offers insight on best uses
When to use them, cost, and installation are issues that are explored.
Codes and Standards | Feb 3, 2017
Justice in Design initiative to explore how to design a modern jail
The report will inform design principles for New York City jails.
Codes and Standards | Feb 1, 2017
Massachusetts, Colorado, Illinois lead annual Top 10 States for LEED Green Building list
LEED for Building Operations and Maintenance the most popular rating system in top 10 states.
Codes and Standards | Jan 31, 2017
Planning for world’s first floating city underway
New approach to resiliency examined in French Polynesia.
Codes and Standards | Jan 30, 2017
Denser development could reduce emissions more than building energy retrofits
More tightly packed cities would cut building emissions significantly, study says.
Codes and Standards | Jan 27, 2017
Calif. legislator proposes statewide solar mandate for new buildings
It would be the first such requirement in the U.S.
Codes and Standards | Jan 25, 2017
Standard baseline for measuring building efficiency needed
EUI could push sustainability through market-driven approach.