Category: Business

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Over the moon, DTLA Hospitality is Roaring Back to life

The 30 to 40 million dollar DTLA tourist industry in bouncing back with many booked conventions already in 2021

Downtown Los Angeles saw a mass exodus this past pandemic year. It looked like a ghost town in 2020 and early 2021.  The urban core has always been gritty said one long time DTLA booster, but the sense of abandonment was even more obvious as people moved out to get more distance and breathing space. The appeal of living in a smaller space surrounded by urban energy, noise and vitality is drawing many back into the thick of it sooner than would have been thought given the all stop mentality of last years lock downs.

Now that Pandemic restrictions have been eased, are people returning to DTLA?

Many thought the worst, that it was gonna be a long road to recovery, but it’s been crazy busy in every bar and restaurant in downtown LA since mid-June, locals bars near Skid Row and Little Tokyo feel like new years eve every night. Speaking with people in the front lines of the hospitality industry. The sales in food and beverage are taking off like a rocket and demand does not appear to be slowing down.

Clubs and resteraunts with outdoor spaces are doing very well since it’s still not safe congregate indoors.

#Little tokyo #entarispowerful

In addition the tourism and convention industry is having a major bounce back too. With more planning and attention to safety protocols DTLA convention venues like Staples Center are set to crush it this year. The local economy gets a huge boost from out of town visitors in the range of 30 to 40 million dollars annually. We can see with conventions already booked this year the bounce back is going to be strong and immediate.

Leave a comment how has your recovery progressed?

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Hopeful signs of life and commerce bouncing back in DTLA

Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com  Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.

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Going Out of Business: California Closed

REAL ESTATE NEWS | Blog Video

As the Loft Blog warned more than a year ago, virus hysteria and lockdown would exact a long-term toll much worse than most realize. Last July, permanent business shutdowns surpassed temporary closures as economic reality set in. Nine months later, most of those permanently closed businesses are still out of business. This week, new unemployment claims unexpectedly shot up as many small businesses fail to thrive. While governments and the Fed continue to stymie the economy, giving radical amounts of money to expand the billionaire class, paycheck-to-paycheck workers are pushed into abject poverty and homelessness. California bears the brunt of this economic carnage, with 1 out of every 5 new jobless claim in the U.S. In addition to decimation of small businesses and the middle class, the poor (locally and internationally) suffer the most from the havoc and ruin that naturally follow panic and overreaction.

Long noting the economic reality that ALL JOBS ARE ESSENTIAL, the Loft Blog has been among the few voices raising concerns of long-term damage to the economy, public health, mental health caused by panic, hysteria, exaggeration, propaganda and censorship. Mass hysteria remains a running theme as politicians and media fail to ask tough questions about comorbidity, age, non-lockdown states, ventilator deaths, influenza, pneumonia, PCR test errors and total death count.

While things are much worse than we are being told, things can also get much better than we might imagine — after we stop the hysterical behaviors, stop destroying the economy, renounce the paltry government handouts, properly account for the harm of extended lockdown, capitulate to the truth of economic weakness, then atone for the mistakes by reversing course. After we hold politicians and their accomplices accountable for their mistakes and misdeeds, wrest control away from the corrupt bureaucrats, restore free enterprise and liberty, things may turn around for real.

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.