Quote:
Originally Posted by jonnie256
Umm I read on another website that they are gonna build a Holiday Inn express on the north side of madison blvd right past wall triana/sullivan st. on the west side of that bank on the corner. Now the thing is to me there is already a holiday inn hotel on the south side of madison blvd right across from this proposed site....dosn't make much since to me?!?!
http://huntsvilledevelopment.blogspot.com/2010/07/another-hotel-for-madison-boulevard.html
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I can understand your thinking, however, hotels in the Huntsville area do exceptionally well during the week. If you ever check the websites on a week night for the following chains, Hiton (which covers Embassy Suites, Hilton Garden Inns, Homewood Suites and Hampton Inns), Marriott (which includes Marriott, Courtyard, Fairfield Inns, Residence Inns, and Townplace Suites) and Choice hotels (Comfort Inns and Sleep Inns) most of these chains' hotels are completely booked on weeknights. Owners of these properties know this and will not invest in building more hotels if the ones they have now weren't already full. To give you an example, the Comfort Suites opened (behind Logan's and Rosie's on University)and did a good business, so they built the Comfort Inn behind Hooter's on University. That hotel did so well, that they built the Sleep Inn in front of it. Also, the Westin at Bridge Street and Sheraton at the Airport are often booked.
Bottom line is business owners will not invest more money in building new hotels if they are not already at capacity. The hotel business to a great extent drives the price of commercial real estate business here (along with restaurant chains like Logan's, Outback and Rosie's) as they are able to pay top dollar to purchase land on high traffic corridors which other businesses are then forced to pay. That's the reason why it's worthwhile to see how the local hotels are doing. Also, the business travelers who stay in the hotels are what keep the high end restaurants like Connor's and Grille 29 busy and profitable during the week.
One last note, the Homewood Suites at Providence routinely stays booked and increases the likelihood its owners will build a Hyatt Suites or an A-Loft at Providence as has been reported a couple of years ago before the economy tanked.