Pacific Northwest Hotel Development – Part VII
PACIFIC NORTHWEST HOTEL DEVELOPMENT MAP
So, what’s been happing with hotel development in the Pacific Northwest during the COVID-19 pandemic? First, let’s re-cap where we were before 2020’s s**t hit the fan… back to a time when the wave of hotel development was cresting… when construction workers were shining their sledgehammers and frequent grand opening announcements glittered social media. Okay, so maybe there was the growing concern of oversupply and the tightening lending environment, but most everyone was still using that term… “cautiously optimistic” about the economy.
The most immediate effect on hotel development was the suspension of construction due to COVID-19. Almost all projects that were under construction at the onset of the pandemic experienced some delay. Relatively few projects were canceled or put on hold indefinitely and these projects were most likely experiencing difficulty before the pandemic. Properties in the planning stages also experienced delays but many “lucked out” with having the flexibility to adjust timelines. However, they will most likely experience more challenges in getting their projects off the ground with the looming uncertainty in the economy. Despite all the delays, there were still grand openings, although I’m not sure it was the glitter and trumpet celebration of yesteryear. Either way, we understand it is tough out there so congratulations to everyone giving their projects the best chance they have.
Projects that broke ground in 2020:
- InterContinental at Avenue Bellevue – Bellevue, WA – Jan 2020
- citizenM Seattle Pioneer Square – Seattle, WA – Feb 2020
- Best Western Plus Tacoma – Tacoma, WA – Jan 2020
- MyPlace Vancouver – Vancouver, WA – Feb 2020
- Tru by Hilton Vancouver – Vancouver, WA – Feb 2020
Hotels due to open soon:
- Holiday Inn Express Bellevue – Bellevue, WA
- Holiday Inn Express & Suites Bend South – Bend, OR
- TownePlace Suites Ellensburg – Ellensburg, WA
- Tru by Hilton Eugene Springfield – Eugene, OR
- Holiday Inn Idaho Falls – Idaho Falls, ID
- Hilton Garden Inn Redmond Town Center – Redmond, WA
- Lotte Hotel Seattle – Seattle, WA
- Hotel Indigo Spokane – Spokane, WA
- Candlewood Suites – Sumner, WA
- Marriott Tacoma Convention Center – Tacoma, WA
- Hilton Garden Inn – Wilsonville, OR
Hotels that recently opened:
- Element Bend – Bend, OR – 112 units
- Staybridge Suites Hillsboro South – Hillsboro, OR – 80 units
- SpringHill Suites Island Park – Island Park, ID – 111 units
- Comfort Suites Kennewick at Southridge – Kennewick, WA – 93 units
- Comfort Inn and Suites Lakewood – Lakewood, WA – 55 units
- Hilton Garden Inn Lynnwood – Lynnwood, WA – 154 units
- citizen Seattle Lake Union – Seattle, WA – 264 units
- SpringHill Suites Spokane Airport – Spokane, WA – 109 units
For more information on Hotel Development in the Pacific Northwest or for other hotel related questions, please call or email us!
Brian Resendez, CCIM – (503) 577-7710 – [email protected]