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August 21, 2015

Los Angeles Conventions to Generate $429M in 2016




The Los Angeles Tourism & Convention Board revealed new visitation forecasts and tourism data to local leisure and hospitality business leaders at the organization’s third annual Market Outlook Forum. According to eTurboNews, overall visitation to Los Angles is expected to set a new record for tourism with more than 45 million total visitors in 2015, an increase of 2.3 percent from the previous record-setting year.

Notably for the events industry, 32 conventions have been booked for 2016 so far, the most for the city since 2001. The economic impact of these bookings is estimated to be $429 million.

Domestic overnight visitation to Los Angeles is expected to grow 1.5 percent to more than 23 million in 2015 while international visitation is estimated to grow 3.2 percent to more than 6.7 million. Total visitor spend in Los Angeles is projected to grow 5.2 percent from $19.6 billion last year to more than $20 billion in 2015.

Ernest Wooden Jr., president & CEO of L.A. Tourism, noted that these numbers make four consecutive years of record-breaking tourism growth. “We are firmly positioned to reach our goal of 50 million visitors by 2020, but it’s imperative there be progress with new and updated infrastructure and hotel development to showcase Los Angeles as a desirable destination to our visitors and accommodate the growth in visitation,” he said.

Hotel occupancy for the first half of 2015 reached 79.6 percent and is projected to total 79.3 percent for the entire year. RevPAR for the year’s first half totaled $122.83, an increase of 7.6 percent from 2014’s first half of $114.16. RevPAR for the entire year is forecasted to reach $123.25, an increase of 6.1 percent over 2014.

L.A. Tourism also highlighted its global sales and marketing plans at the conference, highlighted by plans to renew its successful “What’s Your L.A. Story” campaign with new creative as well as initiatives to increase its market share of China, Canada and Australia, L.A.’s top international markets.


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