Cleveland's Hospitality Industry Poised for Growth

Cleveland's hospitality sector is expected to experience growth in the years ahead. While the region’s industry is still recovering from the pandemic, Cleveland has been positioning itself as a destination for both business and leisure travel. From the expansion of the Convention Center to upcoming large-scale events, Cleveland is expected to have an increase in visitors and the city will need the accommodations to support them. At Spark GHC we are helping to prepare Cleveland to welcome these visitors by investing in hotel projects in the Northeast Ohio region.

New Developments in Cleveland

The recent increase in hotel projects in Cleveland is not coincidental. With the construction/re-development of 600-rooms (Hilton, Marriott, and Drury Plaza hotels) all underway, companies have identified Cleveland as a key city for investment. This is due to Cleveland’s new projects that will support the growth of the hospitality industry. One of these projects is the expansion of the Convention Center. 

This $40 million expansion will transform the former Global Center for Health Innovation space into an additional meeting and event space for the Huntington Convention Center. They will expand the former 120,000-square-foot center by 23,000 square feet, resulting in a 30% increase in the overall size of the Convention Center. The expansion is expected to attract larger conventions and events to the city and support the growth of the local economy.

While the expansion of the convention center is still in the beginning stages, large events are already set to take place in Cleveland. One of these events is the Pan-American Masters Games in 2024. This event is expected to bring thousands of visitors to the city and drive them to hotels, restaurants, and other local businesses. With this influx of visitors, the demand for hotel rooms is likely to increase, boosting the city’s hospitality industry.

In addition to upcoming events, the region’s healthcare systems continue to bring visitors here. Cleveland is home to some of the best hospitals in the country, including the Cleveland Clinic and University Hospitals. These hospitals attract patients and healthcare professionals from around the world. Many of these doctors, patients, and their families need accommodations during their stay in the city. This provides a steady stream of business for the local hospitality industry, and the investments in Cleveland's hospitals are expected to continue to drive visitors to the city.

These developments and investments are positioning Cleveland's hospitality industry for success in the coming years. With the expansion of the convention center, the addition of new hotels, large events like the Pan-American Masters Games, and the continued investment in Cleveland's hospitals, the city is poised for growth. As more visitors come for events, business, and medical care, the demand for hotel rooms and other accommodations is likely to increase, helping further the growth of the city’s hospitality industry and economy as a whole.

Investing in Cleveland's Future

Spark GHC is preparing for the expected influx of visitors now by investing in several hotel projects in the area. Our investment in these hotel projects not only supports the city's hospitality industry but also stimulates the local economy by creating jobs and attracting business to the area. Spark GHC is committed to ensuring that Cleveland is well-equipped to handle the increased demand for hotel accommodations that are expected to come with large events, conferences, and conventions. With our strategic investments, Spark GHC is playing a vital role in Cleveland's growth and development, positioning the city to thrive in future years.