PORTSMOUTH, N.H. — As the hotel industry attends ALIS in Los Angeles, Lodging Econometrics (LE) released its recent Hotel Construction Pipeline Trend Report, which includes a summary of the current hotel construction pipeline activity in the Los Angeles market and every other Top 50 Market.
With a focus on the Los Angeles market, analysts at LE reported that Los Angeles had a total of 120 projects/19,815 rooms in the construction pipeline at the end of Q4 2021—the highest room count in the construction pipeline, slightly ahead of Atlanta (133 rooms/17,593 rooms) and New York (121 projects/19,303 rooms).
In the Los Angeles market, there are 22 projects/3,630 rooms in the under-construction stage. The number of hotels scheduled to start construction in the next 12 months stands at 41 projects/6,278 rooms, and those in the early planning stage comprise 57 projects/9,907 rooms.
At the end of the fourth quarter, the Los Angeles market ranked second of all new hotel openings for the quarter, with eight projects accounting for 1,323 rooms—behind New York, which also saw eight hotel openings but totaled 1,958 rooms.
LE’s forecast anticipates that the Los Angeles market will rank fourth in the nation for new hotel openings in 2022, with 19 projects/3,081 rooms expected to debut. In 2023, LE forecasts 11 hotels/1,367 rooms will open in the Los Angeles market.