Downtown Hotel Projects Due Despite Downturn

LOS ANGELES-In the midst of one of the worst downturns in the history of the US hotel industry, fraught with bankruptcies and distressed sales, Downtown L.A. appears to be bucking the trend. New and revamped hotels due to open soon will bring more rooms and meeting space that is expected to drive revenue into Downtown L.A. reports Bloomberg in an analysis of the new hotel development Downtown.

The new hotels “will bring new meeting space and hundreds of rooms to downtown Los Angeles at a time when the lodging industry has seen its biggest occupancy declines in decades,” says Bloomberg. Its report cites the 1,001-room JW Marriott at L.A. LIVE, which will share space with the Ritz-Carlton, Los Angeles, and the Ritz-Carlton Residences at L.A. LIVE in a distinctive 54-story tower designed by Gensler. As reported previously on GlobeSt.com, the 54-story Marriott, which will be topped by 224 condominiums, will be the centerpiece of new development near the Staples Center.