Raleigh to start construction on convention center expansion
An amphitheater relocation and new hotel are included in a funding package approved by the county last year.
HORIZONTV FEATURING BD+C: WATCH EPISODES ON DEMAND AT HORIZONTV
An amphitheater relocation and new hotel are included in a funding package approved by the county last year.
As seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and a 7% YOY increase in rooms compared to last year.
The resort corner of the hospitality sector has been a bit slower to expand than the whole for the past few years. But don’t tell that to Bill Wilhelm, President of R.D. Olson Construction.
The hotel construction pipeline hit record project counts at Q4, with the addition of 260 projects and 21,287 rooms over last quarter, according to Lodging Econometrics.
Travelers are always looking for a home away from home, and the tourist industry needs these vacationers to survive. Creating a winning hotel can benefit everybody, and people will return to your retreat time and time again.