HVS Market Pulse: Los Angeles, CA

Luigi Major | March 21, 2019

By Luigi Major Los Angeles now ranks as one of the most economically powerful cities in the world, supported by a robust office market, a growing tech sector, and of course, a near-perfect, year-around climate that continues to drive high levels of visitation. This has resulted in healthy hotel occupancies and average daily rates (ADR) despite a 3.1% increase in supply in 2018. In 2018, L.A. added approximately 56,800 jobs, representing a 0.9% increase over the prior year. The city's economic drivers continue to be the entertainment industry, the Port of Los Angeles/Long Beach, leisure and hospitality, retail, manufacturing, and educati...