The new hotels "will bring new meeting space and hundreds of rooms to downtown Los Angeles at a time when the lodging industry has seen its biggest occupancy declines in decades," says Bloomberg. Its report cites the 1,001-room JW Marriott at L.A. LIVE, which will share space with the Ritz-Carlton, Los Angeles, and the Ritz-Carlton Residences at L.A. LIVE in a distinctive 54-story tower designed by Gensler. As reported previously on GlobeSt.com, the 54-story Marriott, which will be topped by 224 condominiums, will be the centerpiece of new development near the Staples Center.

The Bloomberg article focuses on hotels due to open soon in Downtown L.A., but there is even some long-term planning for hotels and new office space in the center of town. As GlobeSt.com has reported, Korean Air has retained Downtown Los Angeles-based Thomas Properties Group Inc. to develop a $1 billion mixed-use hotel, office, condominium and retail complex totaling nearly 1.8 million square feet on the 2.7-acre Wilshire Grand Hotel and office site on the southwest corner of Wilshire and Figueroa in the heart of the city's financial district. The project would replace the existing Wilshire Grand complex with two high-rise towers, totaling approximately 1.75 million square feet: a 40-story tower featuring a luxury hotel of up to 700 rooms topped by several floors of condominiums, and a 1.1-million-square-foot, 60-story office tower

To read the complete Bloomberg article, online, click here.