21-03-2025
Downtown report shows growth in tourism, housing and investment
(COLORADO SPRINGS) — Downtown Colorado Springs released its 2024 report on Thursday, March 20, which showed growth in several sectors such as tourism, housing, and shopping.
According to the 2024 State of Downtown report, downtown experienced $2.47 billion in investments over the past decade, up $125 million in 2024 over 2023. The hotel occupancy rate downtown has surpassed 2023's post-pandemic high standing at 66.8%, a 3.3% difference from the pre-pandemic 2019 rate.
Downtown reportedly set a record in 2024 for total occupied room nights and has doubled its number of hotel rooms since 2019. Weidner Field, Colorado College's Ed Robson Arena, and the U.S. Olympic and Paralympic Museum also brought in over 600,000 visitors downtown.
The Top 5 Weekends Downtown:
June 24-25: Pikes Peak International Hill Climb
June 10-11: Pikes Peak Pride and a Switchbacks game
Sept. 16-17: Fiestas Patrias and Firefighters Weekend
June 17-18: Juneteenth and a Switchbacks game
March 11-12: St. Patrick's Day Parade
In 2024, 29 new businesses opened, matching 2023's totals. Rent is also higher than at the start of 2023; this reflects new construction and improved properties seeking and securing higher rates.
Downtown also has the greatest employee density in the Pikes Peak region, with a workforce of nearly 27,000 people, with roughly 24,000 of those workers representing a consistent presence in their business according to the report.
To read the full report, click the link above.
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