THE LIST HOTELS The Largest Hospitals and Largest Health ... · Jan Feb Mar Apr May June July Aug...
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EXECUTIVE SUMMARY THE LIST HOTELS Ranked by number of guest rooms in L.A. County NEXT WEEK The Largest Hospitals and Largest Health Insurers in L.A. County T HE 100 largest hotels in Los Angeles County have about 38,000 rooms of the estimated 98,000 rooms in the entire county. The county’s hotel occupancy rate was 71.7 percent in 2011, a 5.9 percent increase from 2010, the second consec- utive year of growth. The average rate for rooms booked locally increased by 5.6 percent to $123 last year. The num- ber is an industry measure that includes the rates for rooms rented at discounts for conventions, groups and through the Internet. Two of the hotels listed changed hands during the past year. In Agoura Hills, Wheelock Street Capital pur- chased the Renaissance Agoura Hills and rebranded it as the Sheraton Agoura Hills Hotel. In downtown Los Angeles, the Kyoto Grand Hotel and Gardens was acquired in October by UBS Realty Investors. One hotel no longer listed is the 900-room Wilshire Grand Hotel, which closed last year. Owner Korean Air is working with AC Martin Partners Inc. to manage redevelopment of the site. The Business Journal compiled a separate list of the largest meeting facilities ranked by square footage of the largest room. The Los Angeles Convention Center tops the list of the largest meeting spaces in the county. – David Nusbaum T HE 1,354-room Westin Bonaventure Hotel is the largest hotel in Los Angeles County. The room total includes 145 suites. The downtown L.A. hotel recently completed a $32 million renovation of its guest rooms, suites and other public spaces. Renovations include all new bedding and furniture, wall coverings, art and carpet. “As a result of the renovation, we have seen increases in our guest sat- isfaction ratings,” said Larry McCue, director of sales and marketing. “Plus, we’ve seen hotel occupancy increase about 10 percent from a year ago.” McCue wouldn’t disclose the hotel’s actual occupancy rate nor its rev- enue per available room, financial metrics used to measure a hotel’s per- formance. The Bonaventure caters to travelers drawn to events at the Los Angeles Convention Center, business people and tour groups. The hotel has had added business thanks to tour groups from Asia who are choosing to stay downtown as opposed to sites on the beach or the Westside. The hotel has 110,000 square feet of meeting and banquet space spread across 30 ballrooms. Its California Ballroom is the largest in the city at 26,108 square feet. The Westin Bonaventure is part of Interstate Hotels & Resorts, and a franchise of Starwood Hotel & Resorts Corp. In February, at the Star- wood 2012 sales meeting, the Westin Bonaventure was awarded “Sales Team of the Year for Starwood North America for franchise hotels.” Originally opened in 1976, the hotel is composed of five cylindrical mirrored-glass towers. It has a seven-level atrium, and 18 shops and res- taurants. The hotel even has a running track, and downtown’s only revolv- ing cocktail lounge on the 34th floor. – David Nusbaum Largest: Westin Bonaventure THE PACESETTER THE TRENDS MAY 7, 2012 LOS ANGELES BUSINESS JOURNAL 17 Summer Heights Hotel occupancy rates by month for L.A. County in 2011. Source: Los Angeles Tourism & Convention Bureau 50 60 70 80 90 100% Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec The Price of Sleep Average daily room rates by month for L.A. County hotels in 2011. 50 68 86 104 122 $140 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Continued on page 18
Transcript of THE LIST HOTELS The Largest Hospitals and Largest Health ... · Jan Feb Mar Apr May June July Aug...
EXECUTIVE SUMMARY
THE LIST HOTELSRanked by number of guest rooms in L.A. County
NEXT WEEKThe Largest Hospitals and Largest Health Insurers in L.A. County
THE 100 largest hotels in Los Angeles County have about 38,000 rooms of the estimated
98,000 rooms in the entire county.The county’s hotel occupancy rate
was 71.7 percent in 2011, a 5.9 percent increase from 2010, the second consec-utive year of growth. The average rate for rooms booked locally increased by 5.6 percent to $123 last year. The num-ber is an industry measure that includes the rates for rooms rented at discounts for conventions, groups and through the Internet.
Two of the hotels listed changed hands during the past year. In Agoura Hills, Wheelock Street Capital pur-chased the Renaissance Agoura Hills and rebranded it as the Sheraton Agoura Hills Hotel. In downtown Los Angeles, the Kyoto Grand Hotel and Gardens was acquired in October by UBS Realty Investors.
One hotel no longer listed is the 900-room Wilshire Grand Hotel, which closed last year. Owner Korean Air is working with AC Martin Partners Inc. to manage redevelopment of the site.
The Business Journal compiled a separate list of the largest meeting facilities ranked by square footage of the largest room. The Los Angeles Convention Center tops the list of the largest meeting spaces in the county.
– David Nusbaum
THE 1,354-room Westin Bonaventure Hotel is the largest hotel in Los Angeles County.
The room total includes 145 suites.The downtown L.A. hotel recently
completed a $32 million renovation of its guest rooms, suites and other public spaces. Renovations include all new bedding and furniture, wall coverings, art and carpet.
“As a result of the renovation, we have seen increases in our guest sat-isfaction ratings,” said Larry McCue, director of sales and marketing. “Plus, we’ve seen hotel occupancy increase about 10 percent from a year ago.”
McCue wouldn’t disclose the hotel’s actual occupancy rate nor its rev-enue per available room, financial metrics used to measure a hotel’s per-formance. The Bonaventure caters to travelers drawn to events at the Los Angeles Convention Center, business people and tour groups. The hotel has had added business thanks to tour groups from Asia who are choosing to stay downtown as opposed to sites on the beach or the Westside.
The hotel has 110,000 square feet of meeting and banquet space spread across 30 ballrooms. Its California Ballroom is the largest in the city at 26,108 square feet.
The Westin Bonaventure is part of Interstate Hotels & Resorts, and a franchise of Starwood Hotel & Resorts Corp. In February, at the Star-wood 2012 sales meeting, the Westin Bonaventure was awarded “Sales Team of the Year for Starwood North America for franchise hotels.”
Originally opened in 1976, the hotel is composed of five cylindrical mirrored-glass towers. It has a seven-level atrium, and 18 shops and res-taurants. The hotel even has a running track, and downtown’s only revolv-ing cocktail lounge on the 34th floor.
– David Nusbaum
Largest: Westin Bonaventure
THE PACESETTER THE TRENDS
MAY 7, 2012 LOS ANGELES BUSINESS JOURNAL 17
Summer HeightsHotel occupancy rates by month for L.A. County in 2011.
Source: Los Angeles Tourism & Convention Bureau
50
60
70
80
90
100%
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
The Price of SleepAverage daily room rates by month for L.A. County hotels in 2011.
50
68
86
104
122
$140
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
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20 LOS ANGELES BUSINESS JOURNAL XXX MAY 7, 2012
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THE NEWLY RENOVATED BALLROOM
MAY 7, 2012 THE LIST LOS ANGELES BUSINESS JOURNAL 21
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Sales Manager
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MAY 7, 2012 LOS ANGELES BUSINESS JOURNAL 23
