The latest data from STR shows New York City and several Texas markets will lead the way among the 164 U.S. markets tracked in terms of new supply coming online this year.
HENDERSONVILLE, Tennessee—With many wondering how the U.S. hotel industry will fare in 2017, industry analysts are speculating that supply growth could have an impact on performance, particularly the potential for increasing rate.
Hotel News Now examined data compiled by our parent company, STR, to establish which U.S. markets will see the most hotel openings, in terms of both rooms and properties, in 2017.
To no one’s surprise, New York is expected to lead the way in both categories. Several Texas markets—Dallas, Austin and Houston—also lead the way in supply growth, which could be problematic as U.S. oil regions are still seeing effects of relatively low oil prices.
In total, the top 20 markets for projected room openings are expected to see 64,464 rooms come online in 2017, and the top 20 markets for property openings should see 468 hotels open. In total, there are 149,592 rooms in 1,269 hotels expected to open in 2017 across the U.S.