More Hotel Investment On The Way - Hundreds Of Millions Of Dollars To Be Pumped Into Long Beach MarketRelease Date: 2018-06-18
Hundreds of millions of dollars are being invested in new hotel developments in Long Beach, with the downtown area alone to see the introduction of nearly 1,000 new hotel rooms over the next several years. Many existing hotels have millions of dollars in renovations planned and will unveil new lobbies, restaurants, bars and event spaces within a year.
“What we see is a market that is in significant transition. The opportunity to be on the waterfront in a market like that, with all the investment that’s going into it – we just see all the signs pointing in the right direction,” Chris Atkinson, managing partner of commercial developer Pacific Property Partners, said. “It’s now just a matter of being very strategic about what the best fit is for these different projects and what’s going to work well for the city and the community. We are very bullish about the opportunities in Long Beach.”
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