CHICAGO - Dec. 18, 2015 - PRLog -- Over the next 12 months, the supply of hotel rooms within the US market is forecasted to grow 3.71%. Over 1,100 hotels are being constructed within the next year, resulting in approximately 150,000 new rooms becoming available within the US market in 2016.
HMD Index, a leading provider of real-time supply and construction pipeline data of the US hotel industry, has identified Cleveland, Pittsburgh, and New York City as the top three markets in terms of growth rate. Projected growth rates are 12.74%, 10.28%, and 9.75%, respectively. Both the Cleveland and Pittsburgh MSA regions are each projected to see over 2,300 new rooms become available; the New York City MSA region anticipates nearly 17,000 new rooms opening in 2016.
The newly merged Marriott International-Starwood Hotels & Resorts plans to create more than 36,000 new rooms by January 2017, increasing its total US room supply by 5.28%. Hyatt Hotels Corporation (NYSE: H) will increase its supply by 7.23% with over 7,500 new rooms, and Hilton Worldwide (NYSE: HLT) will experience a 5.99% increase of over 36,000 new rooms by the end of Q4 2016.
The HMD Index’s real-time hotel supply and construction pipeline data is driven by Hotel Market Data’s construction reports, profiles and analytics. Visit www.hotelmarketdata.com/HotelIndex now to signup for free email notifications for specific US markets, hotel scales and hotel franchises.
About Hotel Market Data
HotelMarketData.com is the leading provider of hotel construction, operating properties, and pipeline analytical data throughout the United States. We deliver critical industry information that helps generate new sales for suppliers, vendors and professionals. Please visit us at www.hotelmarketdata.com, or contact us at 866-316-5300 for a free trial.
Contact
Josh Kantarski
312-223-1600
***@buildcentral.com
Photos: (Click photo to enlarge)
Read Full Story - Hotel Market Data Shows Supply of Hotel Rooms within the US Market Expected to Increase by 3.71% in 2016 | More news from this source
Press release distribution by PRLog
