A diverse economy has added 500,000 new jobs to Dallas in the last five years. “The economy is consistently among the fastest-growing in the country,” says Jeff Myers.
The strong economy is attracting developers, who have 5,300 new hotel rooms under construction here, according to CoStar. That makes Dallas the third busiest market for new hotel development.
For example, one the largest hotel projects in the city is a new, 300-room Hyatt Regency hotel, which is within a mile of new corporate campuses for J.P. Morgan Chase and Toyota, each with more than a million sq. ft. of space.
“The market has seen a pretty good amount of supply, but demand has held up well,” says Bowers.