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The Downtown Los Angeles market is making strides in the right direction. The DCBID releases its fourth quarter market report, showing recovery in hospitality, office, retail and multifamily. Suzanne Holley, president and CEO of the DCBID, called the growth “truly inspiring.”

The hospitality sector was the shining star. RevPAR in the market during grew for the fourth consecutive quarter to $96, a 53.4% increase, and occupancy increased 69% from its pandemic low in Q1 2021. The average daily rate increased $179.00 through the end of the year, a 2.9% increase year over year. In the fourth quarter, the 315-room citizen hotel and the 148-room LA Proper Hotel opened doors.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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