• Los Angeles Tourism Industry Generates Record $34.9 Billion in Economic Impact

     
    POSTED May 16, 2018
     

The Los Angeles Tourism & Convention Board (L.A. Tourism) recently announced its record-setting economic impact for the previous year. Los Angeles County’s 48.5 million visitors spent an all-time high in 2017, generating a record $34.9 billion in total economic impact (including $22.7 billion spent directly in the L.A. economy).

Tourism supported 523,800 jobs in L.A. County’s Leisure & Hospitality sector, employing 1 in every 8.5 workers. The tourism industry contributed to the second largest addition of new jobs last year across all industry sectors with 13,900. L.A. County’s hotels set all-time highs in 2017 for room nights sold (demand) at 29.4 million and average daily rate (ADR) at $175.98. Travelers generated a record $283.9 million in transient occupancy tax collections (TOT) for the City of L.A., a 14.3% year-over-year increase. These dollars are a critical revenue source for the City, used to fund local street repair, fire and police, as well as cultural and recreational services. Direct visitor spend in 2017 was $800 million higher than 2016’s total, an increase of 3.9%. Tourism contributed $2.74 billion in state and local tax revenues last year. Without tourism, every household in L.A. County would pay an additional $837 in taxes.

“As we move closer to our goal of 50 million visitors by 2020, tourism has undeniably become an impactful economic driver for Los Angeles underscored by seven straight years of unparalleled growth,” said Ernest Wooden Jr., president & CEO of Los Angeles Tourism & Convention Board. “We are committed to ensuring that our city continues to deliver a transformative experience and thank our hospitality partners for their ongoing investments that make Los Angeles one of premier tourist destinations in the world.”

The new concept restaurant designed by Howe & Brown Hospitality has maritime inspired food and craft cocktails that will prove to be a delight for travelers and locals. Using locally-sourced ingredients, the cuisine emphasizes technique and texture to highlight the exuberance of in-season seafood. 

 

Despite being open for only 15 months, Somni is awarded two Michelin stars. Led by Chef Aitor Zabala with Chef José Andrés, the SLS Beverly Hills restaurant celebrates the honor as well as the Michelin Guide’s return to Los Angeles after a decade.

 

Located in San Diego’s North Country Region, L’Auberge Del Mar is offering a special meeting package in honor of its 30th anniversary. The newly renovated space boasts 6,500 square feet of meeting space and coastal chic décor.