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
| Jun 19, 2013
Construction site safety improved in 2011
On-the-job construction fatalities dropped from 802 in 2010 to 781 in 2011, and recordable injuries fell from 4.7 per 100 workers in 2008 to 3.9 per 100 in 2011, according to data from the Bureau of Labor Statistics.
| Jun 19, 2013
New York City considers new construction standards for hospitals, multifamily buildings
Mayor Michael Bloomberg’s administration has proposed new building codes for hospitals and multifamily dwellings in New York City to help them be more resilient in the event of severe weather resulting from climate change.
| Jun 12, 2013
Green Globes update complies with federal sustainability standards
The Green Building Initiative has updated its green building certification program to comply with the U.S. government’s standards for sustainability in federal buildings.
| Jun 12, 2013
Green Globes update complies with sustainability standards
The Green Building Initiative has updated its green building certification program to comply with the U.S. government’s standards for sustainability in federal buildings.
| May 31, 2013
OSHA will propose to extend crane operator certification compliance date
The Occupational Safety and Health Administration (OSHA) says it will propose to extend the compliance date for the crane operator certification requirement by three years to Nov. 10, 2017.
| May 31, 2013
GIS should guide zoning decisions in states hit hard by Hurricane Sandy, says expert
As New York, New Jersey and other states hit hard during Superstorm Sandy begin their long road to recovery, the decisions they make on how to rebuild are crucial to determining how well they will weather the next big storm.
| May 31, 2013
Bond package to fund $2.7 billion in new university construction dies in Texas Legislature
A $2.7 billion state bond package that would have financed expansion projects at more than a half-dozen universities in Texas died on the final day of the legislative session.
| May 31, 2013
Tax break proposal for $1.5 billion expansion of Minnesota’s Mall of America advances
The Minnesota Legislature approved tax breaks worth $250 million for a $1.5 billion project that would double the size of the Mall of America in Bloomington, Minn.
| May 31, 2013
Debate in the Northwest over how to apply lessons of net-zero construction in codes
Success in constructing net-zero homes in the Northwest has sparked debate over how far green codes should go.
| May 28, 2013
Fire Chiefs Assn., IBHS call for federal legislation to encourage states to adopt, enforce building codes
The International Association of Fire Chiefs (IAFC) and the Insurance Institute for Business & Home Safety (IBHS) are asking Congress to enact the Safe Building Code Incentive Act (SBCIA), which provides financial incentives for states to adopt and enforce building codes.
