Houston Leading the Way Among Top Hotel Markets
PHOTO: Houston, Texas (photo courtesy of Thinkstock).
The hotel industry is taking aim at Houston.
According to the latest data from industry consulting partner Lodging Econometrics, Houston leads all markets in projects scheduled to start construction in the next 12 months with 87 total projects comprising more than 9,770 rooms.
Overall, the Texas city has 170 projects in the hotel construction pipeline, meaning more than half of the projects in its pipeline are scheduled to start construction in the next year. Lodging Econometrics Senior Vice President and Director of Global Business Development Bruce Ford pointed out the significance of that figure.
"As far as projects scheduled to start construction in the next 12 months goes, it is worth noting that of the projects that enter this stage, about 75 percent carry the guarantee of opening," Ford said in an emailed statement.
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The InterContinental Hotels Group is set to expand more than any other franchise company in Houston, according to Lodging Econometrics. IHG has 29 projects scheduled to start construction in the next 12 months.
Marriott International and Hilton Worldwide are tied for second, with each having 16 projects scheduled to break ground within the next year.
Currently, 49 projects (6,692 rooms) in Houston's pipeline are under construction, while 34 projects (3,620 rooms) are in early planning stages.
The 170 total projects comprise more than 20,080 total hotel rooms.
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