New Luxury Hotel In Kansas City
If you are driving down I35 in downtown Kansas City, you will certainly notice a huge new construction building that is being put up very fast. A good friend of mine is one of the engineers leading the charge. It is set to be 150, 5 star luxury hotel rooms. This is something that KC does not currently have. This also has me intrigued to see whether or not Airbnb is affected at all. Many investors, including myself, have made the switch to renting their furnished home to make some extra money. Investors say they can typically make double what the going rent is. My question is whether or not we will see an affect on the amount of Airbnb in KC with the increase in regulations and the building of this new hotel?
On one end I think we can see an increase in demand for Airbnb because of all the new growth around KC giving an influx of travelers to the city. This is probably why they are spending 63 million on this new hotel. The developers see a need for all of the travelers flocking to KC. Also, the new KCI airport renovation is proposing this idea, too. On the other hand, it may marginally decrease Airbnb bookings in the area because KC now has another option for people to stay and be downtown next to KCP&L and the KC Street Car.
Either way, Kansas City is continuing to show just how strong of a market it is for real estate investments. Simply look around or do a Google search for new construction apartment buildings in KC and that will prove that a lot of big money is being put into the city.
Image credit to CitySceneKC