Despite a statewide slowdown in hotel construction due to high borrowing costs and economic factors, Los Angeles County is experiencing growth. It has opened the most hotels in California last year and leads in active construction projects in preparation for the upcoming FIFA World Cup and Olympics. Notably, L.A. County has seen a shift in hotel development strategies, with developers increasingly repurposing existing properties due to limited land availability and competition from multifamily housing projects. Future hotel construction is expected to remain weak, with investors looking for existing hotels at discount prices.
Despite a statewide slowdown in hotel development due to high costs and interest rates, Los Angeles County leads California in new hotel openings and construction as it prepares for upcoming major events.
Hotel developers in L.A. County face challenges including limited land and competition from multifamily housing projects, leading them to focus on repurposing existing buildings.
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