Memphis Hotels Doing Great

[cdarr]

From today's CA:

http://www.commercialappeal.com/mca/busine...4921808,00.html

I really didn't have any idea that the lodging industry in Memphis was doing so well. This may explain why Carlisle decided to build a much larger hotel at One Beale than previously planned. It may also explain the emergence of the highrise hotel project in Bartlett. If only somebody would grab the Sterick Building and build it out as a hotel, too.

Hurricane Katrina's destruction of the New Orleans convention industry is cited as a factor here.

[bluff2085]

At least the article made it clear Memphis needs more hotels. Maybe another large hotel is on the way for DT and/or East Memphis.

[MemphisEcho]

The Westin and Lee's Landing is coming along pretty quickly.

This was taken from Third Street looking West

Another view of the two

Just the Westin

[Psalm 91]

Something needs to happen with the Chisca hotel too........

[Bears]

I think the location of the Westin is what will stop the Forum from turning into another Pyramid. The Pyramid was supposed to spur development in the Pinch District, but most property owners found the land was more valuable as parking lots. In the South Forum area, plans includes mixed use retail in the Gibson parking lot, a downtown grocery store, a large live-work residential/commercial district for artists, four story parking garage (350-400 spaces), 70 single family homes, new parks, midrise residential building, and another garage south of Church Park.

[jmduke]

The lot on the SW corner of Linden and 2nd (east side of the Chisca) will be home to a new Hilton Garden Inn in the future according to this article in the 10/06 MBJ.

http://memphis.bizjournals.com/memphis/sto...0366400^1356091

This will not be a redevelopment of the Chisca, but a new building east of it. Unfortunately, it appears as long as COGIC owns the Chisca property, the Chisca will not be redeveloped as they don't appear to be able to get their act together.

On the upside, the article goes on to mention about high downtown room occupancy both during weekdays and weekends. Hilton Garden Inn is a great product and will be a great addition.

[Clobber]

I think the location of the Westin is what will stop the Forum from turning into another Pyramid. The Pyramid was supposed to spur development in the Pinch District, but most property owners found the land was more valuable as parking lots. In the South Forum area, plans includes mixed use retail in the Gibson parking lot, a downtown grocery store, a large live-work residential/commercial district for artists, four story parking garage (350-400 spaces), 70 single family homes, new parks, midrise residential building, and another garage south of Church Park.

The city and county also implement planning guidelines to prevent another fiasco like the properties around the Pyramid.