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.
