Los Angeles really loves visitors—and the city has the numbers to back it up!
Following the pandemic hospitality drought, the city is rebounding with a ton of new hotel construction projects, leading the country in development.
According to a report by Lodging Econometrics, Los Angeles had a total of 120 projects and 19,815 rooms in the construction pipeline at the end of fourth quarter of 2021. That places the City of Angels ahead of hospitality development in Atlanta and New York City.
While NYC led the country in hotel openings at the end of last year, L.A. was closely behind with eight projects and 1,323 rooms.
Lodging Econometrics anticipates L.A. will open 19 projects and 3,081 rooms in 2022, followed by 11 hotel openings with another 1,367 rooms in 2023.
Per the L.A. Business Journal, the hotel average daily rate in L.A. rose from $137.72 in 2020 to $162.59 in 2021. The average, though, still remains down from pre-pandemic 2019, when the daily rate in L.A. stood at $178.08.
Also on the rebound: hotel occupancy. Last year’s Los Angeles hotel room occupancy topped New York and Chicago, up to 63.7 percent.