New York is building a whopping 16,500 new hotel rooms to cope with the demand from tourists
There’s nothing like that new hotel smell. Fortunately, there will be plenty of opportunities to enjoy sparkling new rooms and lobbies in the very near future.
According to the US September 2016 Pipeline Report—put out by STR, a provider of hotel data and analytics—the total number of hotel rooms about to become available in most American cities is soaring. To stay at a property with the lowest mileage on the sheets, consider these cities, well worth a spot on your to-book list in the next couple of years. With close to 180,000 rooms under construction in the US (a mammoth 35% increase over last year), it’s probably not a surprise that NYC leads the way with the biggest building boom.
Aside from the new Arlo hotels we recently mentioned, other newbies in NY include The William Vale, a strikingly modern property located in the hipster-rich Brooklyn borough; The Beekman, operated by Thompson Hotels, the purveyors of cool, close to Battery Park and next to the iconic Brooklyn Bridge; and The Williamsburg Hotel, another Brooklyn beauty preparing to open its doors in December, stylishly being built with brick, glass and steel. Plenty more are on the way—about 16,500 additional rooms are being readied to welcome their first guests. Other cities are following New York’s lead with Los Angeles, Dallas, Seattle, Denver, Chicago, Nashville and Miami coming on strong. Still, none of these cities are going at boosting their bounty with quite the same gusto as New York. Its closest rival, Los Angeles, has only about 6000 rooms in the works—not even close to NYC’s five-figure number.
According to Jan Freitag, SVP, Lodging Insights at STR, most of the hotels coming to market (87%) are courtesy of mainstream big-brand names along the lines of Hampton Inn and Courtyard by Marriott rather than boutique-type properties. Freitag also noted that there has been “79 months of prolonged growth, but we’re entering the later part of the cycle.” That means as more hotels come into the market, travellers will have more choices. And, eventually, there will be more rooms than guests needing them. This is good news for those who love a sweet deal: when supply exceeds demand, prices tend to go down as properties become fiercely competitive trying to keep beds filled. Bring on the boom we say.