Our recent research for a project in Salt Lake City, Utah revealed some exciting new hospitality-related developments happening in the area. These developments will have an impact on tourism, employment, and the general economy in Salt Lake City and the surrounding areas in 2024 and beyond.

• In April 2024, the National Hockey League officially announced that the Arizona Coyotes would relocate to Salt Lake City starting in the 2024-25 season. Purchased by Utah Jazz owners Ryan and Ashley Smith for upwards of $1.2 billion, the team will play its home games at the Delta Center in downtown Salt Lake City. The move was facilitated by a recent measure passed by the Utah state legislature, which committed $1 billion toward transforming the Delta Center into a dual-use arena and funding the development of a new downtown sports and entertainment district.

• A new planned urban development called the West Quarter is now taking shape in the neighborhood adjacent to the Salt Palace Convention Center, within walking distance of the Delta Center and The Gateway arts district. To date, this area has seen the opening of two new upscale hotels and a handful of new bars and restaurants, with further developments expected over the next few years.

• A large-scale mixed-use development called The Point is now planned at the former Utah State Prison site in Draper, Utah, south of Salt Lake City. Covering 600 acres of state-owned land, The Point will include a mix of housing, office, retail, hospitality, and entertainment uses, with a large central park and connections to existing and planned transportation infrastructure. This project will also incorporate a 300-foot-tall sculpture called the Statue of Responsibility. First imagined by psychiatrist and Holocaust survivor Victor Frankl, this giant depiction of two hands grasping is meant as a companion to the Statue of Liberty in New York City. Now in the early stages of development, The Point will be completed in phases over the next several years.

• A new 700-acre master-planned development called Utah City is planned for the site of the former U.S. Steel Geneva Works in Vineyard, Utah, south of Salt Lake City. Located near the eastern shore of Utah Lake, this massive development will include a mix of housing, medical, office, retail, hospitality, and entertainment uses. In all, over 17 million square feet of development is planned at Utah City, to be completed in phases over the next several years.

• The Utah Department of Transportation is moving forward with plans to expand Interstate 15 in northern Utah. As envisioned, this $1.6 billion project will widen the interstate from Farmington to Salt Lake City, improving safety conditions and alleviating traffic congestion. This project is currently in the early planning stages, and it remains unclear when it will be completed.

• Salt Lake City International Airport is now in the midst of a multi-year, $5.1 billion rebuild project. The first phase of this project opened in 2020, with two concourses and 46 gates. Phase 2, now in progress, has already added multiple new gates and will be completed by the end of 2024. These improvements will prepare the airport to handle the increased passenger volume growth anticipated over the next several years.

• Salt Lake City has expressed interest in hosting the Winter Olympics in 2034. If selected, this massive event would utilize dozens of facilities throughout northern Utah and draw thousands of athletes, spectators, and media representatives from around the world. While no official determination has been made, hosting the Winter Olympics would raise Salt Lake City’s profile as a major sports destination and significantly benefit hotels, restaurants, and other service-oriented businesses across the region. Salt Lake City last hosted the Winter Olympics in 2002.