Published on : Monday, October 16, 2017
The regional hoteliers were under construction on as many as 4,494 hotel rooms in September marking a 15% decline as compared to last year, as per STR.
Nationally, the hoteliers were under construction on 188,479 rooms representing a 6% rise year over year, according to the Tennessee-based hotel data firm. Bobby Bowers who is the vice president associated with STR said in the report that outside Houston there was a marked decline in activity around hurricane-impacted markets. And there continues to be potential for change if there is any kind of damage to the existing sites and rising material prices is likely to remain a challenge.
The U.S. construction activity is up in 2017.
But then it has been increasing at a lower rate of growth as compared to 2016. Though it has been experiencing a slowdown following Hurricane Harvey Houston continues to enjoy a robust hotel construction pipeline with an overwhelming number of 16,626 rooms that have been planned or are under construction.
And the hoteliers have also introduced brand new luxury hotels in downtown Houston over the last year.
Marriott Marquis is a 29-story, 1,000-room hotel that was opened in December 2016.