You may be noticing evidence of construction wherever you look, a tell-tale sign of an improving economy. One industry benefiting significantly from the recovery is lodging and hospitality. The number of US hotel rooms hit an all-time high in June when more than five million were available, and construction of hotel rooms increased 20% compared to the same period last year.
More hotel rooms often mean economic growth. More hotels equals more beds. More beds equals more people. And, more people equals more spending!
A new hotel broadly benefits a local economy. For example, one of BR&P’s projects, a Courtyard by Marriott located in Downtown Holland, Michigan, will double the number of rooms available in the downtown area. Each hotel guest will pay a 5% room assessment, which supports marketing efforts for the local visitor’s bureau to attract more travelers. Other benefits include an increase of spending in nearby restaurants and businesses, creation of jobs, and the ability to retain talent and promote growth within the community.
This month, construction began on a DoubleTree by Hilton in Downtown Evansville, Indiana. The five-story, 241-room hotel and convention center will help generate tourism to the area, as the visitor’s bureau attracts business meetings, religious conventions, and more. Construction is expected to take about 18 months.
BR&P has been extremely busy, and we are happy to announce that we are beginning the design of several additional hotel projects. These include three ground-up locations in the Northeast U.S., one in Michigan, a remodeling project in Texas, and a ground-up hotel in Chandler, Arizona.
Have an idea or project that could help revitalize your community? We can help! Call us at 417-865-6100 or visit our website www.brpae.com for more info.