According to the year-end U.S. Construction Pipeline Trend Report(Nov 2019) from Lodging Econometrics (LE), hotel construction market in U.S. has grown up by 6% by projects and 8% by rooms year-over-year (YOY). With the emergence of a new booming economy, the pace of global growth is building momentum in coming years. The fourth quarter earnings reports by established brands Marriott, Hilton, Hyatt all show strong RevPAR and corroborate with the latest hotel construction trends.
New hotel openings in the LE forecast for 2020 stand at 1,112 new hotels/122,702 rooms followed by 1,126 new hotels/130,447 rooms scheduled to open in 2021.
Russell and Dawson recently added construction services to its portfolio of services, here is a video of one of the ongoing A/E/C projects – Construction of Fairfield Inn & Suites at Williamstown, MA and expect few more projects to start in Q1, 2020. As an AEC (Architecture, Engineering and Construction) firm. These are the following hotel construction trends driving the US market.