The Los Angeles Convention Center needs more nearby hotels to compete with similar facilities in other major cities, according to a report released Thursday by Councilman Jose Huizar.
The Downtown Los Angeles Hotel Market Study found a marked improvement in the number of hotel rooms added or planned within three-quarters of a mile to the LACC, but concluded the city still trails other major cities.
“This study shows the continued growth and improvement of downtown Los Angeles hotels, its positive effect on our economy and the importance to continue building more,” Huizar said. “While our collective efforts over the last four years has resulted in a substantial increase in our hotel room supply, Los Angeles still lags behind most major convention center cities. We must continue to support hotels surrounding the Los Angeles Convention Center while making sure they are consistent with the planning and urban design for the area.”
The study found that over the last four years, the number of hotel rooms within walking distance of the convention center doubled to 4,637.
The study also found that the Transient Occupancy Tax charged to hotel guests was the seventh-largest general fund revenue source in fiscal year 2014- 2015 for the city, and in 2016-2017, the TOT had a higher rate of growth than property taxes.
The Convention and Tourism Development Department in 2013 set a goal of 8,000 hotel rooms open or under construction within walking distance of the convention center by 2020. With another 717 rooms under construction, the city will be 67 percent of the way to 8,000 when they are completed.
The study also noted that L.A. ranks 18th in hotel room supply within three-quarters of a mile to a convention center by comparable cities. San Francisco is first with 21,570 rooms.
–City News Service
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