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We’ll look at one of the world’s most exciting markets – the United States of America – in this blog post.
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The USA’s hotel market
The United States has long been one of the biggest hotel markets in the world. The strength of the market makes it a favoured choice for investors worldwide.
The USA’s hotel market is expected to experience a rise in revenue, with Statista projecting the market will reach USD$110.6bn by 2024. This will be the most revenue by global comparison for 2024.
This is an annual growth rate of 3.80% (CAGR 2024-2029), which would see a market volume projection of $133.30bn by 2029.
Over 1500 United States hotel projects are detailed on the THP database, with more added by our expert research team daily.
The USA’s top upcoming hotel projects
Waldorf Astoria New York
New York’s famed Waldorf Astoria hotel has closed for two years of extensive renovations after being sold to Chinese insurance company Anbang. The new hotel will have most of its rooms converted into luxury condos. The project will also restore public spaces in the hotel.
| Location | New York City, United States. |
| Phase | Refurbishment |
| No. of rooms | 350 |
| Schedule | Q4 in 2024 |
| Star Rating | Five star |
| More details | https://tophotelprojects.com/constructions/waldorf-astoria-new-york/?utm_source=thp&utm_medium=blog-post&utm_campaign=project |
The Ritz-Carlton, Paradise Valley
The Ritz-Carlton is coming to Arizona, with a resort nestled in Scottsdale’s Paradise Valley planned for 2025. Ritz-Carlton Paradise Valley will have views of Camelback Mountain and will consist of casita-style guestrooms and 20,000 sq. ft of function space.
| Location | Paradise Valley, United States. |
| Phase | New Building |
| No. of rooms | 215 |
| Schedule | Q2 in 2025 |
| Star Rating | Five star |
| More details | https://tophotelprojects.com/constructions/the-ritz-carlton-paradise-valley/?utm_source=thp&utm_medium=blog-post&utm_campaign=project |
Aman Beverly Hills
Aman Beverly Hills will be part of the One Beverly Hills development. The Aman will be a collection of branded residences, with private social spaces scattered throughout. The master-planned site will encompass 1.375 million square feet and create landmark architecture and a publicly accessible Botanical Gardens.
| Location | Beverly Hills, United States. |
| Phase | New Building |
| No. of rooms | 42 |
| Schedule | Q1 in 2027 |
| Star Rating | Five star |
| More details | https://tophotelprojects.com/constructions/aman-beverly-hills/?utm_source=thp&utm_medium=blog-post&utm_campaign=project |
Sources:
*https://www.statista.com/outlook/mmo/travel-tourism/hotels/united-states
Image:
Chicago, United States of America. Image © Josh Wilburne/ Unsplash
