New Hotels Under Construction in Greenville and Spartanburg – Set to Open in 2025
Introduction
As the Upstate region of South Carolina continues to grow and develop, the hospitality industry is set to follow suit with some significant growth. Numerous hotels are currently under construction in Greenville and Spartanburg, with over 480 rooms expected to be completed by 2025. These projects are bound to bring a breath of fresh air to the local hospitality market, offering more options for both tourists and locals in need of temporary lodging.
Upcoming Hotel Developments
DoubleTree by Hilton Green is one of the many projects currently in progress. Following an innovative office-to-hotel conversion at 125 The Parkway, the hotel is expected to offer over 140 rooms by the second quarter of 2025. Strategically situated near Thornblade Country Club at Interstate 85, this development project seeks to capitalize on its location.
Fairfield by Marriott, which initially received approval in 2021, is expected to deliver its 136 rooms by the year’s second fiscal quarter. The location of this hotel, which situates on Spartanburg’s St. John Street, was carefully selected with the area’s growth and development in mind.
WoodSpring Suites Anderson represents another significant project currently underway, with plans to introduce 122 rooms by the third fiscal quarter of 2025. As an extended-stay hotel, it aims to particularly cater to those visiting the area for extended periods, whether for business or leisure.
Future of the Hospitality Industry in Greenville and Spartanburg
Despite challenges such as high interest rates and inflation affecting constructions, developers remain optimistic that these factors will ease soon, particularly after the 2024 presidential elections. Observers believe that a favorable economic environment might emerge under the future presidential administration, potentially lowering interest rates and bolstering hospitality industry growth.
Even with the average daily cost for a hotel room increasing slightly, the local hospitality market has witnessed increases in occupancy rates. The market consistently records a long-term average occupancy rate of about 60 percent. However, in the second fiscal quarter of 2024, Greenville-Spartanburg hotels recorded 71 percent occupancy, indicating the growing demand for accommodation in the area.
Factors such as the emergence of leisure travel and an increase in business travel continue to catalyze the hospitality industry’s growth in Greenville and Spartanburg. In a bid to tap into this trend, luxury getaways such as Hotel Hartness and the Grand Bohemian have emerged, further stimulating the region’s hospitality market.
Conclusion
Amid these upcoming developments and increasing demand, Greenville and Spartanburg are set to become vibrant hotspots for both business and leisure travel. With travelers’ needs diversifying and the hospitality industry evolving, the introduction of these new hotels will offer more options and better services to all visitors. The stage is being set for 2025, and all eyes are now on these projects to see how they transform the hospitality landscape of the Upstate region.
