Hotel development projects throughout California saw little forward progress in 2024, according to a real estate brokerage that tracks the industry.
Last year, 35 new hotels opened in the state, a 34% decline from 2023, according to Atlas Hospitality Group’s California Hotel Development Survey 2024 Year-End. The firm also releases a midyear survey. The reasons for the decline add up to a continuation of obstacles…
The largest hotel to open last year in California was hardly ordinary. It was the 197-room Chicken Ranch Casino Hotel in Jamestown in Tuolumne County. In fact, Reay noted, casinos with hotels are a thriving segment of the industry.
“They are on tribal land, so they have (fewer) regulations to deal with, and the tribes require little to no construction financing,” Reay said.
