The US lodging market is expected to grow 3.3% in 2009, hotel real estate analyst Lodging Econometrics (LE) says.
In their Forecast for New Hotel Openings in 2009, LE predicts 1,354 new hotels will open in the US, with 159,368 rooms.
The forecast for 2007 has been adjusted to 1,042 hotels, with 100,924 rooms, representing a 2.2% growth rate, while 1,200 hotels are expected to open in 2008, with 136,692 room, representing a 2.9% growth.
LE president Patrick Ford says following a slight dip in growth late last year caused by concerns the US economy may be heading into a recession, the economy has rebounded and growth is continuing.
“The question moving forward is whether there will be sufficient demand growth to help offset the new supply that is surely coming. If there is an early disconnect, there could be significant supply/demand imbalances in many markets, putting pressure on rates that in turn could impact projected profitability,” he says.