Business relocations and expansions are one sign of Oklahoma City’s economic strength since the recent recession; increasing hotel tax revenues, greater demand, and new supply demonstrate the strength of the city’s hotel sector.
New business partnerships, investments in high-tech companies and facilities, and rising hotel demand and average rates point toward a path of growth for Lansing’s economy and hotels.
Billions of barrels of unextracted oil have drawn masses of companies, crews, and support personnel to parts of Montana and North Dakota. The boom could last for decades, prompting the need for new hotels.
Downsizing, travel freezes, and facility closings have made the climate bleak for hotels in northern Delaware, but a slowdown in the introduction of new supply should help shore up penetration levels when business activity and demand growth resume.
Research shows that the recession has disproportionately affected occupancy at the older hotels in the Hampton market. With several large-scale developments promising to change the makeup of demand, a need for newer hotels is evident.
With over $200 million in proposed hotels for the City Center and myriad new developments driving demand, Birmingham’s lodging market has the opportunity to flourish.
Hoteliers stand to reap the benefits of this capital city’s revitalization, especially downtown.
The popularity of Guadalajara has surged in recent years, attracting new businesses, residents, and developments that are positioning the city as a world-class business and travel destination.