The race for the hearts and wallets of Asian tourists is now in full speed with the ground breaking of a new Sheraton chain hotel on Valley Boulevard by the City of San Gabriel.
About 20 city, state and federal officials to put on a hard had, picked up a shovel and turned the first spade of earth at the hotel site located at 303 East Valley Blvd, only a few blocks from the highly successful San Gabriel Hilton.
The five story hotel will include 288 guest rooms, a ballroom, meeting spaces, an indoor swimming pool, an open courtyard area, a lounge, underground parking, spa service, a fitness center, retail space and two restaurants, including a Chinese restaurant and a steakhouse.
City officials expect that the new hotel will bring in about $2 million per year in hotel occupancy taxes, in addition to additional sales tax revenues from new restaurants.
It’s that potential multi-million dollar revenue that is driving cities such as Monterey Park and Alhambra to attract four-star hotels built to take advantage of the huge influx of Asian tourists that are headed to Southern California and the West.
Spokes persons for the Sheridan hotel project pledged to begin immediately to construct the hotel and said it will be completed in about two years.
The Sheraton Hotel project is led by the Shenzhen Hazens Real Estate Group from Shenzhen, China. The Sheridan brand replaces the “Crowne Plaza” hotel which was originally approved by the city at the same site. Another hotel-mixed use project is planned at the north-west corner of Valley and Del Streets, at the site of a former Norms Restaurant.
Monterey Park is hoping for three new hotels on North Atlantic Boulevard, there there’s been little soil turned on the three sites. If they have made any progress on the projects, the developers have been keeping it a secret.
San Gabriel’s staff said that the hotel groundbreaking represents the culmination of “several years of hard work by city staff” to bring another four-star hotel to San Gabriel.
The city said the project will also create approximately 300 entry level and management hospitality jobs and boost economic activity in the surrounding area by bringing tourists and visitors to the business community. It will also contribute to increased property tax values in the area.
“It’s exciting to see this great project moving forward,” Community Development Director Arminé Chaparyan said. “The Sheraton San Gabriel Hotel will bring substantial benefits to the community, including economic development activity and tax revenues. We can’t wait to see the hotel open in 2017.”