Pacific Northwest Hotel Development – Part II
Hotel development in the Pacific Northwest is booming. Since our spring issue of Northwest Hotel Investor Insider News over 20 new hotels have been added to the planning stages of development for Oregon, Washington, and Idaho. Also, according to our sources at Lodging Development, 11 new hotels have opened their doors in 2016 with another 7 properties expected to be completed by the end of the year.
Using data collected by STR we can see the following changes from 2015 to 2016 in the Oregon hotel development pipeline… Rooms under contract to be built have increase by 46%, rooms in the planning stage have increased 51 %, rooms in final planning have decreased by 9%, and rooms under construction have increased 152%. In August 2016 the YTD percent change in room supply was 0.7%.
In Washington State the YTD (through September 2016) percent change in room supply was 2.6%. All rooms currently under contract to be built account for a 16.2% increase supply. 7% of these hotel under contract are currently under construction, 5.3% are in the final planning stage and 3.9% are in the planning stage.
Listed below are some of the changes we have seen in 2016.
Added to the Pipeline in 2016
TownePlace Suites Beaverton – Beaverton, OR – 100 Rooms – Planning
600 Bellevue Hotel – Bellevue, WA – 500 Rooms – Hotel Use Planned
Burlington Hotel – Burlington, WA – 68 Rooms – Planning
Columbia Palisades Hotel – Camas, WA – 100 Rooms – Hotel Use Planned
Lodge at Saint Edwards – Kenmore, WA – 80 Rooms – Planning
Comfort Inn and Suites Lakewood – Lakewood, WA – 55 Rooms – Final Planning
Hampton Inn & Suites Leavenworth – Leavenworth, WA – 99 Rooms – Final Planning
Washington Street Hotel and Apartments – Portland, OR – 200 Rooms – Early Planning
Central Eastside Hotel – Portland, OR – 135 Rooms – Early Planning
Hotel near Delta Park – Portland, OR – 76 Rooms – Early Planning
Archer Hotel Redmond Town Center – Redmond, WA – 170 Rooms – Planning
Chinatown Hotel & Residences – Seattle, WA – 158 Rooms – Early Planning
AVA Hotel & Residences – Seattle, WA – 178 Rooms – Early Planning
Asian Plaza Hotel – Seattle, WA – 180 Rooms – Early Planning
CitizenM Seattle Lake Union Hotel – Seattle, WA – 260 Rooms – Early Planning
Harvard Hotels & Apartments – Seattle, WA – 70 Rooms – Early Planning
Lake Union Hotel – Seattle, WA – 75 Rooms – Early Planning
La Quinta Inn & Suites Spokane International Airport – Spokane, WA – 84 Rooms – Planning
Fairfield Inn & Suites Springfield – Springfield, OR – 81 Rooms – Final Planning
AC Hotel Vancouver Waterfront – Vancouver, WA – 130 Rooms – Early Planning
Hotel Indigo Vancouver, The Waterfront – Vancouver, WA – 120 Rooms – Planning
Residence Inn Vancouver – Vancouver, WA – 89 Rooms – Planning
Penrose Hotel Walla Walla – Walla Walla, WA – 99 Rooms – Final Planning
Opened in 2016
Hampton Inn & Suites Hood River – Hood River, OR – 88 Rooms
Residence Inn Seattle University District – Seattle, WA – 165 Rooms
Four Points by Sheraton at Sea-Tac Airport – Des Moines, WA – 225 Rooms
Hilton Garden Inn Olympia – Olympia, WA – 118 Rooms
Hampton Inn & Suites by Hilton Olympia Lacey – Olympia, WA – 123 Rooms
Hyatt House Portland Downtown – Portland, OR – 203 Rooms
Thompson Hotel Seattle – Seattle, WA – 158 Rooms
Candlewood Suites Vancouver-Camas – Vancouver, WA – 85 Rooms
Residence Inn Hillsboro – Hillsboro, OR – 146 Rooms
Hampton Inn & Suites Pasco / Tri-Cities – Pasco, WA – 121 Rooms
Home2 Suites by Hilton Eugene Downtown University Area – Eugene, OR – 120
Expected to Open in 2016
Hyatt Place Eugene – Oakway Center – Eugene, OR – 124 Rooms
Woodspring Suites Everett – Everett, WA – 122 Rooms
Hilton Garden Inn Lynnwood – Lynnwood, WA – 150 Rooms
Hampton Inn & Suites Redmond – Redmond, WA – 130 Rooms
SpringHill Suites Issaquah – Seattle, WA – 145 Rooms
Hampton Inn & Suites Seattle Northgate – Seattle, WA – 167 Rooms
Hampton Inn & Suites Woodinville – Woodinville, WA – 102 Rooms