I think a downtown hotel is a ways off...haven't they been talking about that for quite a while (I've only been living here since 2005)? They need a LOT more to do downtown for a hotel to be successful. I'd love to see it happen though...along with more residential development.
I think there is already way too much available retail space, either vacant or ready for development. 11 Galleria (old mall); Greenville mall (anchor space); etc. We can't even get a Macy's here.
I keep hearing about more upscale dining. I'd love to see Bonefish Grill or something similar; Carrabas or something similar to compete with Olive Garden. There is sooo much fast food here (I remember hearing a couple of years ago that Greenville NC has the highest ratio of fast food restaurants per capita in the country).
And they sorely need more kids activities here. Go-Science would be great; a better arcade/go-cart/etc place would be nice too. Personally, I think a small zoo somewhere in the east would be viable.