On July 1, the city had 21,878 hotel rooms to build, far outnumbering all other cities in the United States such as Los Angeles (6,595 rooms), Atlanta (6,398 rooms), Las Vegas (5,031 rooms) and Dallas (5,028 rooms).
Of these almost 22,000 rooms, more than 8,500 are expected to go into operation by the end of this year. That would represent more than 11,400 total openings in 2021. The next market with similar numbers for this year is Los Angeles.
“New York City is poised for a post-COVID-19 boom. The market has the highest number of projects under construction along with the highest number of temporarily closed hotel rooms. As all of this inventory re-enters the market, it will definitely add pressure to regain occupancy levels. “ express Carter Wilson, senior vice president of consulting for STR.
The number of rooms currently under construction in the US is roughly 32,000 below the historic construction peak of 220,207 rooms in April 2020.
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