Hotel Market Data (HMD) Index indicates over 18,000 new hotel rooms under construction to become available in the NYC region by the end of Q3 2016
Online PR News – 08-October-2015 – Chicago, IL – New York City and its surrounding counties anticipate a 10.84% increase in the supply of hotel rooms by the end of the third quarter of 2016. The total supply will increase from 170,000 currently available to over 188,000 available rooms as 109 hotels are slated to open in the New York City region over the next 12 months.
According to the HMD Index, which provides real-time supply and construction pipeline data of the US hotel industry, the supply of mid-range rooms within the NYC region is expected to increase by 11.43% and the supply of luxury hotel rooms is expected to increase by 11.32% over the next 12 months. By the end of the third quarter of 2016, Wyndham Hotel Group (NYSE: WYN) will likely see the greatest increase in hotel room supply in the New York City region with 13.48% growth, while Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) is showing the second highest growth forecast at 12.56%.
The HMD Index’s real-time hotel supply and construction pipeline data is driven by Hotel Market Data’s construction reports, profiles and analytics. Visit www.hotelmarketdata.com/HotelIndex now to sign-up for free email notifications for specific US markets, hotel scales and hotel franchises.
About Hotel Market Data
HotelMarketData.com is the leading provider of hotel construction, profiles and pipeline analytical data throughout the United States and delivers critical industry information to suppliers, vendors and professionals that help generate new sales. Please visit us at www.hotelmarketdata.com or contact us at 866-316-5300 for a free trial.