Competing in a crowded market?
What if you had access to over 8500 hotel projects, as well as the contact details of over 20,000 key decision makers? You can make this vision a reality by subscribing to the THP database.
We’ll look at one of the world’s most active markets – North America – in this blog post. Explore how we can help your business become more competitive in the hospitality industry!
North America’s hotel market
North America is a top investment choice for the global hotel industry, with the region encompassing established markets like the United States, and burgeoning markets such as the Caribbean.
Hotel industry statistics in North America show it is one of the strongest regions globally. The hotel market revenue is projected to be at US$126.90bn by 2024, while the annual growth rate will be 3.78%.**
The United States market is also expected to generate the highest revenue of all global markets, reaching US$110,500m in 2024.
In the United States, hotel revenue was up according to the RevPAR metric, which saw an increase of 3.2% year-over-year in 2023, a number partially boosted by a 0.5% year-over-year increase in hotel occupancy rates.*
The growth rate for the hotels market in North America is higher than the worldwide growth rate of 3.32%, further bolstering the region as one to watch for those in the hotel industry.
Thousands of hotel projects on the THP database
THP is an industry leader for hotel data across the globe, and currently has over 2000 North American hotel projects listed as in planning or under construction on the database.
The THP database has several different filters which make it easy for users to search for a project which best suits their needs. This can be across different hotel categories, hotel types, construction stage, star ratings and more.
Several of the international hotel industry’s biggest players are North American hotel chains, such as Marriott, Radisson, Marriott, Hyatt and more. THP’s database covers all of these leading hotel chains and brands, as well as smaller, independent operators.
Best solution for your business
The THP database is the perfect solution for hospitality industry suppliers who need in-depth, up to date information on upcoming hotel projects for their business.
By subscribing to THP’s cutting-edge database, suppliers gain exclusive access to a wealth of critical data, allowing you to connect with key decision makers in the industry.
THP’s database is filled with the best in architecture, interior design, investment, management, property development and other pivotal stakeholders in upcoming hotel projects.
And for suppliers looking to gain even more of an edge over their competitors, THP’s detailed pipeline reports provide in-depth analysis, straight from our global, multilingual research team.
Below, we’ve compiled a few of the most exciting upcoming projects in North America. All of these can be found in greater detail on THP’s hotel database.
Waldorf Astoria Guanacaste
The Waldorf Astoria Guanacaste will be located in Punta Cacique, Provincia de Guanacaste in Costa Rica. The luxury hotel is currently under construction. It will contain 215 rooms, ranging in size and type. The project is expected to open in the last quarter of 2024, and is owned by North American hotel chain Hilton.
| Location | Punta Cacique, Provincia de Guanacaste, Costa Rica. |
| Phase | Under construction |
| No. of rooms | 215 |
| Schedule | Q4 of 2024 |
| Star Rating | Five-star |
| More details | https://tophotelprojects.com/constructions/waldorf-astoria-guanacast |
Caesars New Orleans
Caesars New Orleans will be located in New Orleans, Louisiana, in the United States. The luxury casino hotel is undergoing an extension, and is currently under construction. The extension involves the addition of a tower, which will contain 340 rooms. This is being added to the pre-existing 450 room structure. The hotel is scheduled to see completion by Q3 in 2024, and is owned by Caesars Entertainment Corporation.
| Location | New Orleans, Louisiana, United States |
| Phase | Extension, under construction |
| No. of rooms | 340 |
| Schedule | Q3 in 2024 |
| Star Rating | Five-star |
| More details | https://tophotelprojects.com/constructions/caesars-new-orleans/ |
Andaz Turks and Caicos
Andaz Turks and Caicos Residences is currently under construction, and is owned by Hyatt Hotels. It will be located in the exclusive Bight Settlement, in the Turks and Caicos Islands. The opening date is scheduled to be Q1 in 2026.
| Location | The Bight Settlement, Turks and Caicos Islands |
| Phase | Under construction |
| No. of rooms | 59 |
| Schedule | Q1 in 2026. |
| Star Rating | Five-star |
| More details | https://tophotelprojects.com/constructions/andaz-turks-and-caicos/ |
Westwood Hotel
The Westwood Hotel is an upscale hotel which will be located in Orlando, Florida in the United States. The Westwood Hotel will be a 274-key property, owned by Empire EQ.
| Location | Orlando, Florida, United States |
| Phase | Under construction |
| No. of rooms | 274 |
| Schedule | Yet to be announced |
| Star Rating | Four-star |
| More details | https://tophotelprojects.com/constructions/westwood-hotel/ |
Cocoon Hotel & Resort Tulum
The Cocoon Hotel & Resort Tulum will be located in Tulum, Mexico. This luxury hotel is currently under construction, and was designed by Spanish-based architecture firm DLM Architects.
| Location | Tulum, Mexico |
| Phase | Under construction |
| No. of rooms | 387 |
| Schedule | Yet to be announced. |
| Star Rating | Five-star |
| More details | https://tophotelprojects.com/constructions/cocoon-hotel-resort-tulum/ |
*https://www.cbre.com/insights/reports/2024-global-hotels-outlook
**https://www.statista.com/outlook/mmo/travel-tourism/hotels/north-america
