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FOURTH QUARTER, 2O21
LUKE GIBSON
The Grand LA
YEAR-END MARKET REPORT
SPREADING HOLIDAY CHEER DCBID creates the ultimate DTLA Holiday Adventure The DCBID brought the holiday spirit to DTLA this year by unveiling a brand-new fun, safe, and interactive holiday scavenger hunt celebrating the amazing businesses and places to see in Downtown LA. The scavenger hunt consisted of 40 fun and festive challenges to complete around Downtown Center, like taking a photo in front of the holiday lights at The BLOC or striking up a conversation with a worker in Downtown. The Holiday Adventure attracted 635 participants who completed over 5,000 challenges. While doing the scavenger hunt, 97.8% of participants engaged in other activities like dining and shopping. For 51.8% of visitors, the DTLA Holiday Adventure was a large part of their decision to come to DTLA. Winners were awarded a total of $14,000 in gift cards to various Downtown Center businesses.
The Downtown market showed strong signs of recovery as 2021 came to a close with recordbreaking residential occupancy and a substantial increase in hotel demand. Major projects like The Grand LA on Bunker Hill and the Moxy/AC Hotel across from LA Live neared completion, while residents and visitors alike cheered the reopening of iconic Downtown favorite Bottega Louie. For the full story, checkout the Year-End 2021 Market Report at DowntownLA. com/MarketReport beginning February 15. To keep up-todate on the Downtown market, sign-up for our DTLA Business News & Insights Newsletter at DowntownLA.com/subscribe.
DTLA NUMBERS
93.5%
“This was really fun! It got me out … and enjoying Downtown again.”
Residential occupancy rate
+139% Hotel demand
4,500+
Residential units under construction
2,500+
Hotel rooms under construction