HVS Market Report – Bakersfield, California: Vibrant Progress & Developments Forward

The lodge market of Bakersfield, California, thrives year-round as a result of space’s sturdy industrial enterprise and robust manufacturing and distribution trade. Furthermore, town and the encircling space are poised for main development, with upcoming developments that may improve the market’s enchantment and entice additional demand.

Thrilling occasions lie forward for Bakersfield’s dynamic market.

The $600-million Exhausting Rock Lodge & On line casino Tejon mission, which broke floor on December 14, 2023, guarantees to inject vitality into the Bakersfield suburb of Mettler. Part I encompasses 150,000 sq. toes of gaming area, a number of eating choices, and a 2,800-seat occasion venue. Part II will embrace a 400-room lodge and extra eating and leisure facilities. Part I is slated to open in October 2025, with Part II following 20 months later. Although located half-hour from Bakersfield, this mission is poised to develop into a distinguished leisure demand generator for the area.

In October 2023, plans have been authorised to relocate the Golden West On line casino from South Union Avenue to the northwest nook of Merle Haggard Drive and Landings Means. The brand new 31,000-square-foot constructing shall be roughly 81% bigger than the prevailing constructing and can function 45 gaming tables, a restaurant, a VIP lounge, occasion areas, and leisure amenities. This growth is an element of a bigger mission that features speculative warehouses, a lodge, a Starbucks, and a gasoline station/comfort retailer, located on the north facet of Merle Haggard Drive throughout from Meadows Discipline Airport.

Different authorised developments within the space warrant consideration, though timelines have but to be established. One mission is a brand new master-planned group with 378 residential models starting from residences to estates, situated at Brimhall Street in Northwest Bakersfield. Moreover, Adventist Well being plans to assemble the Roth Household Campus, a 50-acre medical facility east of Espresso Street and on the japanese portion of the Bakersfield Commons web site. The campus will function a 250-room hospital, a most cancers middle, and medical workplace buildings. The Bakersfield Commons, a 250-acre growth mission, would host the medical campus alongside new residential housing, retail area, eating places, leisure venues, workplaces, inns, healthcare amenities, and open areas.

Total, these developments are anticipated to profit inns within the space, with an increase in leisure demand anticipated from the on line casino developments, in addition to a rise in business and group demand from potential medical facility developments. The brand new housing developments are anticipated to bolster the general development and vitality of the world, resulting in elevated lodge demand.

Sources:
https:///news-releases/hard-rock-hotelcasino-tejon-breaks-ground-302017195.html
https://www.bakersfield.com/information/development-plans-rise-near-meadows-field/article_6e050366-6acd-11ee-9e03-7b677b3f1734.html
https://www.bakersfield.com/information/master-planned-community-with-378-units-okd-for-northwest-bakersfield/article_d638aa2a-d17f-11ec-b8ed-0b9f495f1fa6.html
https://www.turnto23.com/information/local-news/adventist-health-to-open-50-acre-campus-as-part-of-the-bakersfield-commons-project
https://sjvsun.com/information/golden-west-casino-previews-renderings-for-new-location/
https://on line casino.hardrock.com/tejon/project-vision
https://www.bakersfield.com/information/golden-west-casino-eyes-possible-new-home-near-meadows-field-airport/article_b825fec8-5d99-11ee-9f9e-9b73dc84290e.html

About Aidan Martin

Aidan Martin is a consulting and valuation Mission Supervisor with the HVS Los Angeles workplace. His ardour for hospitality started whereas working at his native nation membership as a teen. He graduated from Michigan State College in Could 2022 with a Bachelor of Arts in Hospitality Enterprise and a minor in Actual Property Funding Administration. Whereas learning at Michigan State College, he participated within the Actual Property Funding Membership, held a management place in his fraternity, and accomplished the Certification in Lodge Business Analytics (CHIA). Previous to becoming a member of HVS, he accomplished a property administration internship with Greystar in Chicago. Contact Aidan at (424) 902-2598 or amartin@hvs.com.