According to the Los Angeles Tourism & Convention Board, the city’s visitor numbers in 2022 reached 46.4 million, 91% of 2019’s record-setting 50.7 million tourists.
In 2023, LA County is predicted to reach near full recovery to 2019 visitation with a total of 50.3 million visitors, 99% of 2019’s numbers.
These levels are expected to be driven by domestic US visitation, forecasted at 44.1 million visitors (102% versus 2019), with international visitation forecasted at 6.2 million visitors (84% versus 2019).
Hotel investment billions
This comeback will be welcome to the big players in the hotel industry planning projects in the City of Angels. Already there are at least 42 high end developments in the offing, equating to 8,291 keys, according to the latest data from THP.
These projects collectively represent investment of over US$3.3 billion in the west coast metropolis.
Four star forward
In terms of star ratings, the premium pipeline is dominated by four star sites, with 30 of our total fitting into this category, as against 12 five star hotels. This represents a 71%/29% split.
Opening dates are slanted towards the immediate, with at least nine additions expected this year, with a further eight slated to appear in 2024. No more than three are currently scheduled for any of the subsequent years, though there are 15 listings presently without a delivery date.
Within the THP database, Marriott International tops the LA high end hotel development pipeline, with at least four sites underway. Both Accor and Hyatt Hotels Corporation are close behind on at least three each.
For individual brands, only Hyatt’s luxury Park Hyatt line is planning multiple developments, with two scheduled.
Ones to watch
Major projects to look out for in the coming years include the US$1.2 billion Angels Landing hotel, apartment and retail mixed-use development, which will comprise two skyscrapers, of 64- and 42-storeys, linked by a skybridge. Accor’s Ennismore division will have two hotel brands onsite, in the form of 289-key Mondrian Los Angeles Angels Landing and the 192-key SLS Los Angeles Angels Landing. The site is due to complete in Q1 2028, in time for LA to host the Olympics.
Another luxury resort heading to the city will be Aman Beverly Hills, part of the One Beverly Hills masterplan. The project will comprise a 42-room Aman hotel, a collection of exclusive Aman Branded Residences and an Aman Club, set within eight acres of botanical gardens. Aman Beverly Hills is expected to open to guests, residents and club members in 2026.