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 | Jun 17, 2020
Santa Fe is second city in the world to achieve LEED v4.1 Gold
New Mexico community gained credits for resilience planning, including public health crises.
Codes and Standards | Jun 15, 2020
NSF International’s Checked by NSF program helps businesses reopen safely
Includes third-party validation of COVID-19 preventive measures.
Codes and Standards | Jun 15, 2020
Workers want policy changes before they return to offices
More office cleaning, work from home opportunities, and staying home when sick among the desired adjustments.
Codes and Standards | Jun 12, 2020
Carbon emission legislation prompts commercial real estate to innovate
Mass timber, augmented reality, and modular construction among the trends.
Codes and Standards | Jun 11, 2020
USGBC offers new pilot credit to address green cleaning and COVID-19
Provides guidance on cleaning and disinfecting buildings using green cleaning best practices.
Codes and Standards | Jun 10, 2020
AIA issues tools for reducing risk of COVID-19 transmission in buildings
Tailored strategies offered for offices, retailers, schools, and senior living facilities.
Codes and Standards | Jun 8, 2020
OSHA construction safety inspections fall 84% during COVID-19 pandemic
Agency focuses on preventing disease transmission in healthcare industry.
Codes and Standards | Jun 8, 2020
5 must reads for the AEC industry today: June 8, 2020
Frank Lloyd Wright sites set to reopen and construction jobs rise by 464,000.
Codes and Standards | Jun 8, 2020
Reopened offices raise liability risk for businesses and owners
Risks may not be covered by property insurance.
Codes and Standards | Jun 4, 2020
American Wood Council updates report on fire resistance of wood members and assemblies
Provides new examples and background on mass timber calculations.
