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However, the uncertainty and desperate regulatory environments at the state and national level present seemingly relentless headwinds. Numerous shifts in both consumer behavior and the labor market have already left a lasting impact on restaurateurs. In short, “Why should anyone want to work for us?”
Dallas has the most projects scheduled to start in the next 12 months with 80 projects/9,021 rooms, followed by Atlanta with 60 projects/7,311 rooms, Austin with 47 projects/5,683 rooms, the Inland Empire with 47 projects/4,668 rooms and Los Angeles with 46 projects/7,113 rooms. Forty of the top 50 markets in the U.S.
Markets with the greatest number of projects already under construction at the Q1 close are New York with 54 projects/8,682 rooms, Atlanta with 26 projects/4,278 rooms and the Inland Empire of Southern California with 26 projects/2,584 rooms. LE is forecasting the top 50 markets to open 319 new hotels/42,743 rooms in 2023.
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