Dallas is kicking off its third year at the top of the United States Construction Pipeline Trend Report from Lodging Econometrics , with 193 projects totaling 23,720 rooms in the pipeline. Atlanta follows with 159 hotels and 17,804 rooms; then Phoenix with 124 hotels and 16,303 rooms; Nashville with 120 hotels and 15,983 rooms; and Austin, Texas, with 120 hotels and 14,120 rooms complete the top five markets.
In the under-construction stage of the pipeline, Phoenix leads with 35 projects accounting for 4,829 rooms, followed by Dallas with 34 hotels and 3,663 rooms, New York with 29 hotels and 5,689 rooms, Miami with 24 hotels and 4,843 rooms and Atlanta with 21 hotels and 2,206 rooms.
Dallas continues to lead with the largest number of planned construction starts anytime within the next 12 months with 74 hotels and 8,202 rooms. Atlanta follows with 58 hotels and 6,658 rooms, then Austin with 51 hotels and 5,499 rooms, while California’s Inland Empire and Nashville have 44 hotels and 4,467 rooms and 42 hotels and 5,981 rooms, respectively.
The early planning stage further demonstrates Dallas' market strength, with 85 hotels and 11,855 rooms. Atlanta is next with 80 hotels and 8,940 rooms in early planning, while Nashville with 59 hotels and 7,648 rooms, the Inland Empire with 59 hotels and 5,908 rooms and Orlando with 51 hotels and 10,777 rooms round out the top five.
These project counts underscore substantial activity in the U.S. hotel sector, with the South and Southwest regions continuing to lead new hotel construction.
The report noted "steady" hotel renovation and conversion activity across the U.S. at the end of Q4 2025. Houston and Atlanta lead, each with 35 projects and 5,411 and 4,314 rooms, respectively, while Washington, D.C. stands at 34 hotels and 3,963 rooms. Chicago follows with 29 hotels and 5,397 rooms and New York completes the top five with 28 hotels and 7,293 rooms.
On the Horizon
The fourth quarter saw 285 new project announcements nationwide, with Phoenix emerging as the leader with 12 hotels and 1,347 rooms, followed by Atlanta with 8 hotels and 854 rooms and Saint Louis with 7 hotels and 725 rooms. Tampa and the Inland Empire round out the top markets for new announcements with 6 hotels and 664 rooms and 5 hotels and 535 rooms, respectively.
Looking ahead to 2026, Phoenix is forecast to maintain a top position, opening 23 new hotels and 3,326 rooms. New York is projected to open 22 hotels and 3,795 rooms, while Dallas is forecast to open 19 hotels and 2,295 rooms, Austin 13 hotels and 1,738 rooms, and the Inland Empire 12 hotels and 1,024 rooms.
LE's extended forecast shows continued growth with new hotels projected to open in 2027. Dallas is expected to lead 2027 openings with 37 new hotels and 3,198 rooms, followed by Atlanta with 28 hotels and 2,554 rooms, the Inland Empire with 18 hotels and 1,693 rooms, Phoenix with 17 hotels and 2,078 rooms and Los Angeles with 15 hotels and 1,769 rooms.