Published on : Wednesday, July 19, 2017
California’s new hotels witnessed a 53% increase in the initial half of 2017 and there were 15% more hotels that were being developed. Another 6% more were under construction as compared to the same period in 2016, as per a study conducted by Atlas Hospitality Group.
Alan Reay who is the president of Irvine-based Atlas mentioned that a large number of hotel rooms have opened in the first six months of the year.
In the first half of 2017, 26 hotels had opened that had as many as 4,730 rooms. And, 17 hotels had opened in the same period in 2016.
Reay went on to add that several hotels were being developed currently because the price of buying and renovating older hotels is quite high. He also feels that it is more lucrative to create a new hotel since construction financing and loans are more readily available.
In addition, there have been six years of revenue increases.
In Orange County three hotels with 461 rooms had opened in the first half of the year. They included AC Hotel Irvine, Staybridge Suites Anaheim and Homewood Suites.
AC Hotel Irvine is a 176-room hotel based in the Park Place development that had opened this spring. It is situated less than two miles away from John Wayne Airport. It comprises a fitness center, meeting spaces and a pool. It belongs to the Marriott brand.
Homewood Suites by Hilton Irvine John Wayne Airport is a 161-room hotel that opened this winter. It offers two-bedroom suites, one-bedroom suites and also a studio. It also has a fully equipped kitchen.
Staybridge Suites Anaheim at the park is a 124-room hotel that was opened earlier this year and all its suites have kitchens and it is based lose to Disneyland Resort. It boasts of a business center, a pool and also a fitness center.
Currently, Orange County has eight hotels and 1,1194 rooms are under construction.
The largest of these is the Marriott Irvine Spectrum that has 271 rooms.
At the end of 2016, Orange County had 58,723 hotel rooms as per Visit Anaheim. As per a report of CBRE Hotels, hotel occupancy in the first three months of 2017 had decreased by 0.7%.