Dallas building watchers know the city is opening the floodgates for a wave of new hotel rooms, and a new survey shows how many there are.
As of July 1, the Dallas market had 5,028 hotel rooms under construction, according to STR, a supplier of analyzes on the hospitality sector.
This puts the Dallas market in fifth place nationally for the number of hotel rooms under construction, behind New York (21,878), Los Angeles (6,595), Atlanta (6,398) and Las Vegas ( 5,031).
“While the number of rooms under construction continues to decline year over year, those under final planning have actually increased for two consecutive months,” said Carter Wilson, senior vice president of consulting at STR , in a July 12 press release. “The same goes for rooms in the planning stage, although rooms in this phase are the least likely to materialize. “
If the 5,028 rooms under construction in the Dallas market were located in high-end properties, that would equate to 35 hotels. This is based on the average number of rooms (143) for upscale hotels in the United States last year, according to the data provider Statista.
The city of Dallas alone has more than 30,000 hotel rooms, according to VisitDallas, with more than 78,000 hotel rooms available throughout the region.
In the pre-pandemic year of 2019, approximately 8.3 million room nights were booked in Dallas, generating $ 1.06 billion in revenue, according to VisitDallas. The city of Dallas attracts approximately 25 million visitors per year.