Thousands of new hotel rooms expected to open in LA County won’t: report
Atlas Hospitality estimates 10,000 of the 33,000 rooms planned will actually get built
Around 10,000 hotel rooms are expected to come online in Los Angeles County over the next few years, according to a new report, part of what is projected to be a record-setting period of development across the state.
That flood of new hotel construction still represents a conservative estimate of the total number of rooms that developers are proposing. In 2017, developers laid out plans to open 33,500 hotel rooms over the next few years in Los Angeles alone.
The report from Atlas Hospitality Group estimates that, given historical data, the number will be closer to the 10,000 mark, Atlas President Alan Reay told the Los Angeles Business Journal.
Still, that is a extraordinary pace of building.
This year is expected to beat out any previous year on record, including 2017’s historic high for hotel rooms.
Nearly 10,800 hotel rooms opened across the state last year, or 500 more than the previous record set in 2008. LA County led with 4,300 new hotel rooms, thanks in part to the 889-room Intercontinental Hotel at the Wilshire Grand—the hotel with urinals on the 70th floor that overlook the LA skyline.
There are 5,327 hotel rooms now under construction in LA Count y— a quarter of the 20,693 under construction statewide. That’s almost twice the number of the second highest area, San Diego County, according to Bisnow. [Los Angeles Business Journal] – Dennis Lynch