Slow Growth

Hotel and convention center development projects are still moving forward, but at a slower pace than in recent years, says a survey of 79 convention and visitors bureaus:

  • 57 percent of the bureaus expect increases in guest room inventory, a decrease from the 65 percent that projected inventory increases in last year's survey. Columbus, Ohio, leads with 2,000 new rooms by the end of 2002.

  • 2.2 million square feet of new exhibit space came online at convention centers between August 2000 and July 2001 — more than double the amount of space that became available the previous year, but below projections.

  • 16.8 million square feet of exhibit space is slated to open between July 2001 and December 2006, a much slower rate of growth (2.4 percent) than the 15.5 percent increase reported in last year's survey.

Source: The Chicago Convention and Tourism Bureau's 11th Annual Competitive Analysis Report, conducted in January.