A prosperous 2013 for Orange County on the horizon
January 4, 2013 by Sarah
Recently revealed projections for 2013 in one important industry, on the back of a promising 2012 in the area, will no doubt raise the spirits of Orange County residents – particularly those involved in the leisure and hospitality business.
In 2013, the sector, which the third-largest source of jobs in the county, is expected to continue the growth seen in 2012. Both room occupancy and room rates are predicted to continue to rise. In fact, PKF Consulting predicts nearly 75% hotel occupancy this year, which would be a 1.6% increase over 2012 occupancy rates. Additionally, rates for those rooms expect to be over 4% higher.
The president of Atlas Hospitality Group in nearby Irvine put it this way:
“I see a very strong 2013 on the back of rebounding growth in 2011 and 2012. Hotels are enjoying record profits”
With demand growing and an increased number of passengers arriving in the area via John Wayne Airport, a 200-room hotel also is planned to arrive in Irvine this year.
This follows a positive 2012 right here in Anaheim, where Disney Resorts opened up Cars Land, a 12-acre theme area in Disney California Adventure Park. This move added about 5,000 jobs to the local economy as the park surpassed UC Irvine to become Orange County’s biggest employer in 2012. In addition to the increase in jobs at the park, the expansion brought more tourism to the area, benefiting the economy of the entire county and providing another round of brochure and postcard printing for local print companies.