HVS Market Report – Bakersfield, California: Vibrant Growth & Developments Ahead – By Aidan Martin
The hotel market of Bakersfield, California, thrives year-round due to the area’s robust industrial business and strong manufacturing and distribution industry. Moreover, the city and the surrounding area are poised for major growth, with upcoming developments that will enhance the market’s appeal and attract further demand.
Exciting times lie ahead for Bakersfield’s dynamic market.
The $600-million Hard Rock Hotel & Casino Tejon project, which broke ground on December 14, 2023, promises to inject vitality into the Bakersfield suburb of Mettler. Phase I encompasses 150,000 square feet of gaming space, multiple dining options, and a 2,800-seat event venue. Phase II will include a 400-room hotel and additional dining and entertainment amenities. Phase I is slated to open in October 2025, with Phase II following 20 months later. Though situated 30 minutes from Bakersfield, this project is poised to become a prominent leisure demand generator for the region.
In October 2023, plans were approved to relocate the Golden West Casino from South Union Avenue to the northwest corner of Merle Haggard Drive and Landings Way. The new 31,000-square-foot building will be approximately 81% larger than the existing building and will feature 45 gaming tables, a restaurant, a VIP lounge, event spaces, and entertainment facilities. This development is part of a larger project that includes speculative warehouses, a hotel, a Starbucks, and a gas station/convenience store, situated on the north side of Merle Haggard Drive across from Meadows Field Airport.
Other approved developments in the area warrant attention, although timelines have yet to be established. One project is a new master-planned community with 378 residential units ranging from apartments to estates, located at Brimhall Road in Northwest Bakersfield. Additionally, Adventist Health plans to construct the Roth Family Campus, a 50-acre medical facility east of Coffee Road and on the eastern portion of the Bakersfield Commons site. The campus will feature a 250-room hospital, a cancer center, and medical office buildings. The Bakersfield Commons, a 250-acre development project, would host the medical campus alongside new residential housing, retail space, restaurants, entertainment venues, offices, hotels, healthcare facilities, and open spaces.
Overall, these developments are anticipated to benefit hotels in the area, with a rise in leisure demand expected from the casino developments, as well as an increase in commercial and group demand from potential medical facility developments. The new housing developments are expected to bolster the overall growth and vitality of the area, leading to increased hotel demand.
Sources:
https:///news-releases/hard-rock-hotelcasino-tejon-breaks-ground-302017195.html
https://www.bakersfield.com/news/development-plans-rise-near-meadows-field/article_6e050366-6acd-11ee-9e03-7b677b3f1734.html
https://www.bakersfield.com/news/master-planned-community-with-378-units-okd-for-northwest-bakersfield/article_d638aa2a-d17f-11ec-b8ed-0b9f495f1fa6.html
https://www.turnto23.com/news/local-news/adventist-health-to-open-50-acre-campus-as-part-of-the-bakersfield-commons-project
https://sjvsun.com/news/golden-west-casino-previews-renderings-for-new-location/
https://casino.hardrock.com/tejon/project-vision
https://www.bakersfield.com/news/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 Project Manager with the HVS Los Angeles office. His passion for hospitality began while working at his local country club as a teenager. He graduated from Michigan State University in May 2022 with a Bachelor of Arts in Hospitality Business and a minor in Real Estate Investment Management. While studying at Michigan State University, he participated in the Real Estate Investment Club, held a leadership position in his fraternity, and completed the Certification in Hotel Industry Analytics (CHIA). Prior to joining HVS, he completed a property management internship with Greystar in Chicago. Contact Aidan at (424) 902-2598 or amartin@hvs.com.
Categories: Trends