With 169 projects/19,885 rooms in the total construction pipeline, Houston has the second largest pipeline in the country, following New York City, according to Lodging Econometrics.
Of all markets, Houston has the most projects scheduled to start construction in the next 12 months with 87 projects/9,627 rooms, over half of its total pipeline projects. Houston also has the most projects in early planning with 40 projects/4,252 rooms. The remaining 42 projects/6,006 rooms are presently under construction.
With its total pipeline continuing to grow, Houston is an upward trending market that will likely soon top its previous peak of 171 projects reached in 2008.
Dallas has the third largest pipeline in the country, Lodging Econometrics reports. With 131 projects/15,819 rooms in the total pipeline, it increased by 25 projects or 24 percent year-over-year (YOY).
There are 51 projects/6,283 rooms under construction up 22 projects, or 76 percent YOY. Those scheduled to start construction in the next 12 months are at 57 projects/7,281 rooms adding 13 projects, an increase of 30 percent YOY. Projects in early planning are at 23 projects/2,255 rooms, down 10 projects YOY as older projects migrate up the pipeline toward construction.