Hotel Overbuilding?

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Chris Stritzel
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Re: Hotel Overbuilding?

Post by Chris Stritzel »

normalthings wrote:
Tue Jan 26, 2021 10:53 pm
Colliers' 2021 KC Metro Outlook report had some interesting info

2020 deliveries 1,655 total rooms
Under construction 1,327 total rooms
Announced 6,067 total rooms

These are the urban core projects that I do not recognize. They also noted a 304 room Plaza hotel project and the Tribute & Aloft projects so I assumed those all to be the same.

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Epoch - I believe was a River Market area proposal from a few years back that included a high-rise apartment building.
Home2 - A dual-brand with a Tru Hotel located on 50th Street between Main and Wyandotte. Neighbors shot that down about 3 years ago.
Berkley Riverfront Hotel - I believe it was mentioned on this forum before, but not sure.
Pulse Development: West Port Terrace project includes a 120 hotel room portion.

I'd consider 3/4 (Berkley being the exception) as presently dead.

So the unknowns are the AC Hotel and Microtel in Downtown.

earthling
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Re: Hotel Overbuilding?

Post by earthling »

Would be huge vote of confidence in downtown KC if more hotels announced this year. Could reduce risk if combined with a residential tower. However increases risk for existing downtown stock.

Some interesting AC Hotel designs in Australia..
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180 rooms, 8 floors of a 28 floor office building in Orlando..
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normalthings
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Re: Hotel Overbuilding?

Post by normalthings »

earthling wrote:
Wed Jan 27, 2021 12:08 am
Would be huge vote of confidence in downtown KC if more hotels announced this year. Could reduce risk if combined with a residential tower. However increases risk for existing downtown stock.

Some interesting AC Hotel designs in Australia..
Image
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180 rooms, 8 floors of a 28 floor office building in Orlando..
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Cambria moving forward is another big positive.

earthling
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Re: Hotel Overbuilding?

Post by earthling »

Collison on the AC hotel at 9th/Grand, not timeline on when. Residential might be a better use.

https://cityscenekc.com/historic-ozark- ... ventually/
A Little Rock hotel developer has bought the historic Ozark building at Ninth and Grand and plans to ultimately redevelop it as a 240-room AC Hotels by Marriott at some point in the post-pandemic future.
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FangKC
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Re: Hotel Overbuilding?

Post by FangKC »

earthling wrote:
Thu Jan 28, 2021 2:18 pm
Collison on the AC hotel at 9th/Grand, not timeline on when. Residential might be a better use.

https://cityscenekc.com/historic-ozark- ... ventually/
A Little Rock hotel developer has bought the historic Ozark building at Ninth and Grand and plans to ultimately redevelop it as a 240-room AC Hotels by Marriott at some point in the post-pandemic future.
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I started a separate thread on this building.

viewtopic.php?f=15&t=21110

earthling
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Re: Hotel Overbuilding?

Post by earthling »

This compares 2020 revenues per available room (RevPAR) to 2019. KC metro 2020 revenue about 46% of 2019, while poor still relatively better than Midwest peer markets. Most southern markets did better for various reasons. As expected large urban centers and event/biz travel dependent cities didn't perform as well as smaller markets with higher % of Interstate traveler hotels.

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https://www.cbre.us/research-and-report ... ent-Crisis

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