The United States Leads the Way for Hotel Growth in November 2017 [Infographic]
This year has been robust for hotels in the U.S., and if the project pipeline is an indication, it will likely remain so through Nov 2017
So far, the year 2017 has been a robust one for the hotel industry in the United States, which has seen a moderate level of growth in demand that has led to increases in both hotel occupancy and the average daily rate (ADR) paid by guests, and as if the project pipeline in the country is any indication, the United States will likely remain to have a dynamic year as we get well into November 2017.
Experts predict that the economy in the United States will continue to function well for the foreseeable future, because both consumer and business spending are projected to remain strong, keeping the country on solid economic footing as 2017 concludes and we head into 2018. One model even forecast's the country' total domestic product (GDP) to grow a healthy 2.7 percent (annualized rate) during the third quarter of 2017, numbers for which will be available soon.
The lone caution for hotel owners and operators in the United States is that peaking supply growth continues to serve as a meaningful downside risk, which puts pressure on pricing power and can ultimately lead to tempered performance, although that certainly won't show in the United States' project pipeline for months, if not years, to come.
The following hotel projects are schedulled to open in November:
A boutique property located in the former American National Bank Building, a landmark edifice from 1910, the hotel was restored in 1995 to reflect the building's original appearance [MORE INFO…]
The new hotel will be part of the Porsche complex adjacent to the Hartsfield-Jackson International Airport [MORE INFO…]
The Mercure Maldives Kooddoo Resort will provide one of the best-value accommodation options in the spectacular Maldives, with 68 villas including 43 located over water and 25 scattered along the white sandy beach [MORE INFO…]
More information on hotel projects can be found on TOPHOTELPROJECTS, the specialized service provider in the exchange of cutting-edge information of hotel construction in the international hospitality industry.
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