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New Embassy Suites - Monroe North

numstead

By numstead
in Grand Rapids

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DwntwnGeo Hamlet

DwntwnGeo

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Thanks DwntwnGeo. By the way, how do you hear about these projects in G.R. ? I live in Holland, and I hardly hear anything. And I am always looking..??

I mostly just keep my eyes open on UP, Mlive and the local news outlets on the internet. :thumbsup:

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MJLO City

MJLO

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It would seem that the downtown hotel market is about at a saturation point. Do you think that between these hotels that they would be profitable? Being so close to each other. Unless there is an expectation of more activity downtown with all the hillside developement and the like. But as far as we know, that's only speculative. So Does does downtown really need these hotels?

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GRDadof3 Ecumenopolis

GRDadof3

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It would seem that the downtown hotel market is about at a saturation point. Do you think that between these hotels that they would be profitable? Being so close to each other. Unless there is an expectation of more activity downtown with all the hillside developement and the like. But as far as we know, that's only speculative. So Does does downtown really need these hotels?

What's only speculative?

As far as the hotels go, I haven't seen anyone post on here that they've seen the pro-formas for these hotels, so I don't know if we know how profitable they will be. If they are working with hotel chains, I'm sure there is a due diligence formula that needs to be met to get the go-ahead.

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GRDadof3 Ecumenopolis

GRDadof3

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eh I use way to many words, just asking if this many hotel rooms downtown are sustainable currently.

I can't imagine all four of the proposed hotels will get the green light (Icon, WAM site, Medical Mile and Mid Towne Village). I'm personally pulling for Mid Towne Village and the WAM project. :thumbsup:

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fotoman311 Burg

fotoman311

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I can't imagine all four of the proposed hotels will get the green light (Icon, WAM site, Medical Mile and Mid Towne Village). I'm personally pulling for Mid Towne Village and the WAM project. :thumbsup:

Those are my favorites as well. Mid Towne Village just looks REALLY nice. I need to go walk down there for a closer look sometime soon.

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egrguy Burg

egrguy

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The Medical Mile hotel certainly would pull a different crowd then the existing "convention" hotels downtown. Being apart of the hospital I think it just has a certain built in customer base that it will be built and suceed. The mid-towne project would probably have some of the similar pull. My bet is the Icon project is the one that gets lost in the shuffle.

Who knows what happens regarding the revamped Bob site with potential boutique, although its on a different timeline (3-5yrs) then the others listed.

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metrogrkid Hamlet

metrogrkid

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The Medical Mile hotel certainly would pull a different crowd then the existing "convention" hotels downtown. Being apart of the hospital I think it just has a certain built in customer base that it will be built and suceed. The mid-towne project would probably have some of the similar pull. My bet is the Icon project is the one that gets lost in the shuffle.

Who knows what happens regarding the revamped Bob site with potential boutique, although its on a different timeline (3-5yrs) then the others listed.

Let's stop and consider some forgotten truths here. ONE: Back before the JW was built, The City, Amway Hotel Corporation & friends hired Deloitte & Touche to do a feasibility study on how many rooms DeVos Place would need to succeed and pull national level conventions. The resulting report revealed that downtown GR would need between 1,500 and 2,000 ADDITIONAL hotel rooms (READ added to the Grand Plaza's 680 rooms, the Marriott Courtyard's 225 rooms and the Days Hotels 175 rooms <PRE-ADDITIONS TOTAL: 1,080 / NEEDED TOTAL: 2,580 to 3,080).

Taking the still needed low-scenario of 1,500 rooms and subtracting the JW's 380 rooms, the Medical Center Hotel's 100 rooms, the Hyatt Place's 175 rooms, the Icon on Bond II hotel's 175 rooms, North Monroe hotel's 250 rooms and The BOB tower hotel's 200 rooms, we're still in need of 220 rooms. With that said and after all those projects come to fruition, we may definitely need to pause on downtown hotel development for some measure.

TWO: The other truth not factored in here in regard to the Icon on Bond II hotel is that the Monroe/Market Corridor Streetrail allignment will feature prominent North Monroe Area stations in direct proximity to it (as well as the North Monroe hotel). The perfectly timed combination of European-level gas prices and the great popularity that GR and its ITP/The Rapid organization is enjoying with the Feds in regard to the plans for GR's dual streetrail and BRT systems is going to go far to ensure that both systems are built. Once the two new systems are in place, additional transit-oriented development downtown and along South Division will be historic (Google: Portland Streetcar spin-off development). Additional hotel, office, entertainment and housing demand directly connected to the combined 29-35 streetrail and BRT stations will follow and constitute GR's "next big wave" of development. Extensions onto those systems' lines will create most following development waves. What a future . . . .

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Eridony Hamlet

Eridony

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is this project DOA?

It's the opposite from my understanding. I talked to the younger of of the Beukema's in April. He said everything is full speed ahead and that they expect to start in late summer or early fall. There also is a possibility that the hotel will be "co-branded" I think he called it. A full service hotel and a limited service hotel in the same building. If that happens the building could be 13 stories.

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GR Pyro Unincorporated Area

GR Pyro

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It's the opposite from my understanding. I talked to the younger of of the Beukema's in April. He said everything is full speed ahead and that they expect to start in late summer or early fall. There also is a possibility that the hotel will be "co-branded" I think he called it. A full service hotel and a limited service hotel in the same building. If that happens the building could be 13 stories.

The co-branding has worked well with a number of cities that they have tried it in. One in particular that I think would work well on the site is a Hilton Garden Inn / Homewood Suites. Hilton opened the first of this combination in Baltimore's Inner Harbor last summer. The HGI is 183 rooms and the Homewood is 165 suites.

http://baltimore.homewoodsuites.com/

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fotoman311 Burg

fotoman311

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The article in Grand Rapids Mag says that this project will probably start in 2009 now. But they still sound pretty optimistic they are going to make it happen.

I think they were referring to this quote. I don't think there is any official announcement yet.

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GRDadof3 Ecumenopolis

GRDadof3

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I think they were referring to this quote. I don't think there is any official announcement yet.

I don't see any major hotel chains pulling the trigger on a new hotel in the area any time soon. Especially if occupancy rates downtown continue to trend downwards going into next year.

Anyone else have more optimism on this than me?

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Rhino6885 Hamlet

Rhino6885

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I don't see any major hotel chains pulling the trigger on a new hotel in the area any time soon. Especially if occupancy rates downtown continue to trend downwards going into next year.

Anyone else have more optimism on this than me?

I have a feeling that we'll see another hotel announcement first :whistling:

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