Orange County Business Journal
01/09/20

Hotel Development Strong
By Katie Murar

https://www.ocbj.com/news/2020/jan/09/hotel-development-strong/

Three hotels opened in Orange County last year, one of which was the largest to open in the state in 2019, according to a year-end survey by Irvine-based Atlas Hospitality Group.

The 352-room Cambria Hotel Anaheim Resort Area opened last summer. The other openings were a 178-room and 102-room Hampton Inn & Suites in Anaheim and Buena Park, respectively.

The 632 new rooms in the county mark a 42% jump from the year prior.

There are currently 17 hotels with 3,166 rooms under construction, flat growth year-over-year, the largest of which is the 613-room Westin Anaheim Resort, a $250 million project led by Wincome Group.

There are an additional 69 hotels with 11,048 rooms in planning, up 7% from 2018.

Statewide, hotel openings hit a new record in 2019, with 34 properties delivering 4,773 rooms.

“Despite the increased cost of construction, California hotel developers continue to build, and lenders continue to provide financing,” the report said. “This is driven in large part by the premium owners can charge for new rooms versus older competitors, along with the ultimate premium they can drive on sales/appraised value.”