PORTSMOUTH, NH - As much of the industry, including Lodging Econometrics (LE), attends America’s Lodging Investment Summit (ALIS) in Los Angeles, LE releases its recent Hotel Construction Pipeline Trend Report. This informative report includes a summarization of the current hotel construction pipeline activity in the Los Angeles market as it does every other Top 50 Market.
With a focus on the Los Angeles market, analysts at LE report that, at the end of 2021’s fourth quarter, Los Angeles has a total of 120 projects/19,815 rooms in the construction pipeline. At Q4‘21, Los Angeles has the highest room count in the construction pipeline, slightly ahead of the Atlanta market, with 133 rooms/17,593 rooms, and the New York, NY market with 121 projects/19,303 rooms.
In the Los Angeles market, there are 22 projects/3,630 rooms in the under construction stage. Projects scheduled to start construction in the next 12 months stand at 41 projects/6,278 rooms, and projects in early planning are at 57 projects/9,907 rooms.
At the end of the fourth quarter, the Los Angeles market ranked second of all new hotel openings for the quarter, with 8 projects/1,323; behind the New York, NY, market, which also opened 8 new projects in Q4 ’21 but has more rooms at 1,958.
LE’s forecast for new hotel openings anticipates that the Los Angeles market will rank fourth in the nation for new hotel openings in 2022 with 19 projects/3,081 rooms. In 2023, LE forecasts 11 hotel projects, accounting for 1,367 rooms, will open in the Los Angeles market.