The Los Angeles Planning Commission has approved a significant expansion of the Hilton hotel in Universal City, adding an 18-story structure with 395 new rooms.
Alan Reay emphasized that hotels, especially near leisure destinations like Universal Studios, are outperforming those in urban centers, highlighting the 'pullback of the convention and meeting business'.
Reay noted the Hilton's impressive 92% occupancy rate, stating, 'I don't know any other hotels that are running that kind of occupancy at a similar price point,' showcasing the location's strength.
Sun Hill Properties' President Mark Davis expressed satisfaction with the Planning Commission's decision, affirming their faith in L.A.'s future and the ongoing appeal of Universal Studios.
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