Does new hotel = up & coming area?

Question

Hi! While searching around for possible up-and-coming areas (smallish towns), does a new hotel opening in the area lead you to believe that the town is on the rise? I’m talking like a Hyatt Place or Courtyard Marriott type hotel. I know there are obviously many more factors, just wondering if anyone has any insight about this. I figure big hotel chains are doing quite a bit of market research before deciding where to open!

I should also add that, beside from a small college in town, the place is pretty desolate. Although, it does look like several of the older homes are being/have been completely gutted and redone.

Nikki Closser · Answer

Great questions! The hotel opened in 2018 and is in the middle of the little downtown. Tons of vacant storefronts, but a few newer looking businesses. I’ll have to look more into if there are any new or large businesses, but not that I know of off the top of my head.

Parker Eberhard · Answer

@Nikki Closser I would try to figure out why the hotel may have chosen your location and then use that data to decide if the area is up and coming. Are there any new companies or major draws that would facilitate a hotel opening? Is the hotel targeting business travelers?

Additionally, is the hotel sitting in the middle of a huge newly developed area? (Surrounded by acres of newly laid asphalt, etc?)