According to a recent report by Lodging Econometrics, the Dallas market is emerging as a top destination for hotel projects in the United States. The report revealed that Dallas had more hotel projects in progress than any other area in the country during the first quarter of 2024, with a total of 185 projects planned, equating to around 21,900 rooms.

Investors seem to be showing a strong preference for the Dallas region when it comes to new hospitality ventures. The city’s hotel industry is experiencing significant growth and development, making it an attractive market for investment.

Comparatively, Atlanta had 153 hotel projects in progress, followed by Nashville with 127 and Phoenix with 123. Dallas also ranked second for hotels under construction at the end of the first quarter, with 25 projects underway. New York led in this category with 47 projects.

Notable upcoming projects in Dallas include the Hall Park Hotel in Frisco, set to open later this year with a focus on modern art. Additionally, a new Four Seasons Hotel and condominium tower is planned along Turtle Creek, adding to the city’s expanding hospitality offerings.

While the hotel construction activity in Dallas has seen a slight slowdown from the previous quarter, the city continues to maintain its status as a prominent market for hotel development. The leisure and hospitality sector in the Dallas area has witnessed growth in recent years, driven by the addition of new hotels and the hosting of major sporting events.

Employment in the leisure and hospitality sector in the Dallas-Fort Worth region saw a notable 3.6% increase in the fourth quarter of 2023, as reported by the Dallas Federal Reserve Bank. This growth rate represents a significant improvement compared to the 1.1% increase recorded in the same quarter of 2022.