Quote:
Originally Posted by flyinpenguin
Construction crews needing hotels to stay at is a good theory. It sounds like Woodbury is trying to see how much money they can get. I'm sure that's just standard practice. My observation of the I.F. hotel rates is that they seem low most of the time. So I question the immediate need for another property, which could explain Woodburys stance on the money request.
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My understanding is Woodbury started this project after the extremely high occupancy of their Residence Inn last summer. While there will always be a mixture of guests, what put them and every other hotel at capacity was the tourism to YNP, Teton NP and Jackson. No, this hotel wasn't planned due to INL. Woodbury went to the RDA for development help months before any of the new and unexpected projects at INL were announced in late 2015 and 2016.. No way would Woodbury know partner labs, universities and private businesses for these other projects. The increased demand for rooms first will be due to construction then later, teams coming from partner labs, universities in the east and private businesses.
Conversely, I think local developers knew about at least three of the projects. It is very possible local developers and maybe the Colorado group, will proceed with their additional new hotel plans given the unexpected INL projects.
However, I believe other hotel owners may want another year of data before expanding or building another property, Woodbury has seen the trend for years from the Residence Inn and Fairfield. By starting in 2016 they will be ahead of the competition to offer additional rooms.
I probably wasn't clear enough. My earlier comments were really about the brand Woodbury selected, originally. They may have had a different brand chosen until they realized the amount of construction workers, along with tourists and others, who would need rooms. Just like young families traveling to the NP, my comment meant construction workers would be another group who would be searching for that price range and certain features a SpringHills Suite offers, for that price range. There will be more out-of-town construction crews given everything from INL to schools in both Districts, to new businesses and other.
I don't remember the last time I drove by a construction project that had a sign posted for certain workers. It is a local construction company building ~ a $4.5 Million project. Still, every company needs more workers. It's good to see the jobs.
I agree every developer tries to get every dime than can from a city or other. My point again was I.F. did not ask Woodbury to build and had already committed available funds for 2016. I wouldn't want that particular County Commissioner telling me the limit of what RDA could do, especially when the limit had been stated repeatedly in the 12/2015 and other meetings. Do you see that as wise decision to badger the RDA and passively threaten to not build for Woodbury? Woodbury has ownership in Sandcreek Commons as well. The same County Commissioners can block a lot of things around SCC and elsewhere. Besides, we'll have to see what the Legislature does, as I posted specifics in the Idaho Statewide thread. Ammon won't have the flexibility to offer certain things they have in the past. That's a given.
As for the cost of hotel rooms, maybe they are cheap compared to certain markets, but not others. Have you checked Pocatello or MT rates lately? Missoula's Doubletree is Cheaper than their Hilton Garden Inn. Irrelevant to me, I.F. was at capacity last summer. I booked a room, in a much larger city, in a western state this past week. It's true, the pre-pay type rooms are maybe $10-13/ less each night, wit no changs allowed. But the standard reservation rooms where dates can be changed were identical. I see BV slightly changing prices so the Home Suites is coming in a few bucks less than the two Hampton Inns and some HGI. That's to get guests familiar with it, I'm guessing.
Obviously, when events happen and all hotels always sell out, prices increase. Poky hosts about three events yearly that books all their rooms. Already, the Fairfield in I.F. is sold out for an upcoming Poky event too.
Woodbury did have plans for more -likely another hotel- given the placement I've seen in Marriott Clusters. Who knows, maybe they sold those extra lots to another developer. I 'm tired of Woodbury already. I do know of another project in that area, but it's not a hotel.
Bring on Jackson Hole Junction.
A fresh design and a great builder, IMO. It will be interesting to see which two hotels are placed there.
Have you see the new Hilton hotel? Interesting design and probably built for Millenial appeal. Marriott now has the Delta, which seems to be mostly in Canada to date, but who knows for the future?
Looking forward to other construction from non-Woodbury developers, in Idaho Falls!!!