SAN JOSE — Hotel development nosedived in California and the Bay Area in 2024, fresh evidence , a new report shows.
the statewide lodging market still suffers from an array of post-coronavirus economic maladiesAtlas Hospitality Group disclosed in a new report that the decline affected three types of hotel projects: hotels that were being planned, hotels under construction, and new hotel openings.
Fairfield Inn & Suites, a 111-room hotel at 220 North Greenville Road in Livermore. (Google Maps)
Here are some of the details of the report from Atlas Hospitality Group:
— In 2024, developers completed and opened just three hotels in the Bay Area, a plunge of 75% from the 12 hotels that opened in the Bay Area in 2023.
— The hotels that opened in 2024 in the Bay Area had a combined total of 348 rooms. That was down 78.4% from the 1,615 hotel rooms that were opened in the nine-county region in 2023.
— Northern California, which includes the Bay Area, added 18 new hotels with 1,849 hotel rooms in 2024. The number of Northern California hotels that came on line in 2024 was down 28% from the 25 hotels that opened in the region in 2023. The total for new hotel rooms that opened in 2024 was down 38.5% from 2023.
— Southern California added 1,950 hotel rooms in 2024, which was down 19.8% from the 2,432 rooms that opened in the Southland in 2023.