Why Palm Beach Hotels May be Your Next Commercial Real

Why Palm Beach Hotels May be Your Next Commercial Real Estate Investment

Palm Beach County Florida is one of the most popular vacation spots in the country. Visitors can come here and enjoy outstanding weather, unsurpassed beaches, world class spas, dining, shopping, recreation, and golf. During a stay in the Palm Beaches, you will have your choice of several luxury hotels that offer superb accommodations and amenities. Still, plans for opening several more hotels in the area are on the horizon. The trend towards hotel construction in the area has caught the attention of many area real estate watchers. Here is why Palm Beach hotels may be your next commercial investment:

Palm Beach County Today

Whether you prefer the magnificence of the historic Breakers Hotel, a high-end private condominium, or a bungalow set apart from the bustle of the city, you will find your heart’s desire in Palm Beach. However, despite appearances, this picturesque Florida county is more than a holiday destination. Several of its villages and towns are growing and developing thriving financial centers and robust business cultures. With all of this interest and activity, the need for more rooms to accommodate both vacation and business visitors is anticipated. New hotels are in development throughout Palm Beach County to respond to these changes and meet future demand. Palm Beach hotels are expected to be in demand.

Palm Beach Hotel Construction

According to a recent report, hotel projects are happening all around West Palm Beach and in other parts of the county. At the time of the article, there were over a dozen projects with almost 2000 rooms under construction. Due to recent job growth, the area tourism group speculates that Palm Beach Gardens will need at least 600 Palm Beach hotel rooms over the next several years to keep pace with demand.  It’s reported that hotel giants such as Hilton, Marriott, and IHG, all have plans for future hotel projects throughout Palm Beach County.

Palm Beach Business Growth

This area of South Florida, is seeing numerous out-of-state companies moving their operations into Palm Beach County. According to the Palm Beach County Business Development Board, the County is home to companies such as ADT, Bankrate, Inc. 3Cinteractive Corp, Biomet 3i, a Zimmer Biomet Company, Campus Management Corp., Cancer Treatment Centers of America, Careers USA, Concurrent Technologie, Depuy Synthes Power Tools, a Johnson & Johnson company, Infinity Sales Group, Office Depot, SBA Communications, TravelPro, the US Polo Association, and many others. With increasing business development, the number of travelers, conventions, and events are rising in the area. More Palm Beach hotel rooms are expected to be needed to accommodate these guests.

At Rabideau Klein, Guy Rabideau, Esq. and David E. Klein, Esq. are Florida Board-Certified Real Estate Attorneys with experience assisting clients with their commercial real estate ventures in the Palm Beach area.  We have the expertise and local knowledge you need to evaluate your Palm Beach County real estate transaction.  Contact Rabideau Klein today to discuss your legal real estate needs.

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