Lodging Construction Market Remains on the Rise

Lodging Construction Market Remains on the Rise

2014 construction outlook for the hotel and lodging market

After several years of sharp decline during the recession, lodging construction continued its solid comeback, growing 18% in 2013. This market is also expected to grow an additional 10% in 2014.

According to Smith Travel Research, Hendersonville, Tenn., the number of rooms under construction in 2013 was up 11.6% over the previous year in May. Lodging Econometrics, Portsmouth, N.H., forecasts the opening of 591 hotels with 66,102 rooms in 2014.

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