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Phoenix outpacing nearly every US market in hotel construction growth

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The Valley could increase its total hotel room count by roughly 20% in the next few years, according to data from real estate and hospitality industry tracker CoStar.

PHOENIX — There are more hotel rooms under construction in Phoenix than just about anywhere else in the country.

Currently, there are 26 hotels under construction in the Valley, adding 4,527 new rooms, according to CoStar. For a hotel to be considered in construction, there must be physical walls built above ground grade. On top of that, there are 40 projects and 4,748 rooms that are in the final planning stage and another 46 projects and 5,298 rooms in the planning stage, according to CoStar data. The total 14,573 rooms under construction or being planned would increase the Valley’s hotel room count from about 70,000 to more than 84,500.

 

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