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
Energy Efficiency | Aug 28, 2015
North American Passive House Network e-book explains Passivhaus, net-zero techniques
Free guide includes spotlight on individual projects
Windows and Doors | Aug 28, 2015
Newly formed group challenges Florida building code
Window, door companies oppose provisions that raise costs
Codes and Standards | Aug 28, 2015
New Orleans becoming a model for climate resilience only 10 years after Katrina
The city has moved ahead with resilience strategies that may become a model for other communities
Codes and Standards | Aug 21, 2015
Illinois governor vetoes bill that would restrict condo owners’ rights
Bill would have made it harder to sue for building flaws
Codes and Standards | Aug 21, 2015
Post-Katrina roofing codes creating more resilient buildings on Gulf Coast
Ten years after storm, notable progress on stronger roofs, IBHS says
Smart Buildings | Aug 21, 2015
Federal Alliance for Safe Homes offers plan to strengthen codes for disaster resilience
Some states losing ground on resilience, group says
Codes and Standards | Aug 21, 2015
After disease outbreak, ASHRAE legionella standard adopted in New York
City Council acts after 12 die of legionellosis
Codes and Standards | Aug 13, 2015
Research indicates major earthquake looming for Pacific Northwest
Most structures built before seismic codes instituted; extreme damage predicted
Codes and Standards | Aug 13, 2015
New York City may allow affordable housing developers to ‘double dip’ in subsidies
New York City may allow affordable housing developers to ‘double dip’ in subsidies
Codes and Standards | Aug 13, 2015
L.A. considers controversial traffic calming measures
Goal is to encourage alternative transportation
