Jayne Kirkpatrick, Director, Public Affairs

Prepared by: John Boyette Jr., Senior Public Affairs Specialist

For more information: Jim Greene, Assistant City Manager for Economic Development, 919-996-3070

Dec. 2, 2014

City Council Approves Downtown Hotel Market Feasibility Study

Downtown Raleigh has changed dramatically since the last hotel market study for the area was completed in 2003. The rebirth of the center city has included a return of vehicular traffic to Fayetteville Street; the openings of the Raleigh Convention Center, City Plaza and Red Hat Amphitheater; and new quality housing, office, retail and dining establishments.

The City of Raleigh considers that these new developments warrant an updated hotel market analysis for Downtown. The City Council voted unanimously today to partner with the Greater Raleigh Chamber of Commerce, Greater Raleigh Convention and Visitors Bureau, and Downtown Raleigh Alliance on funding a new Downtown hotel market feasibility study. The City will contribute $20,000 toward the $55,000 study; the remaining $35,000 will come from the three partnering agencies.

The hotel market feasibility study for the Downtown area will include site analysis, a review of rooms and public space needed, hotel type and quality recommendation, impact on the Convention Center complex, and analysis of public/private partnerships existing in the industry.

In addition to funding the hotel study, the City of Raleigh, Chamber of Commerce, Convention and Visitors Bureau, and Downtown Raleigh Alliance will design a request-for-proposals (RFP) to recruit a study consultant and analyze the results and recommendations of the study. The City plans to work with representatives of the partnering agencies in forming a steering committee to develop the RFP and work with the selected consultant to complete the study.

The Downtown hotel market feasibility study is expected to begin in March. It will take approximately four months to complete the project.