2018 Hotel Construction Starts
- Jun 19, 2018
2017 top 10 metro areas for hotel construction starts; $ in millions
Data by Robert Murray, chief economist, Dodge Data & Analytics
The top ten metropolitan areas for hotel construction starts mostly registered growth in 2017, with five markets displaying increased activity compared to 2016. The Las Vegas-Paradise, Nev., metro was the leading market, posting the largest growth of 263 percent, from $218 million to $791 million. The Miami-Fort Lauderdale-Miami Beach, Fla. metro followed along with a 102 percent increase, from $440 million to $890 million year-over-year.
On the other end of the spectrum, hotel construction starts inched down by 32 percent or by more than $119 million in the Nashville-Davidson–Murfreesboro, Tenn., metro area, from $613 million to $414 million. The New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa., metro area also recorded significant declines, with construction starts dropping 28 percent, from $1.9 billion in 2016 to $1.4 billion in 2017.
—Posted on June 19, 2018