Hotel boom going strong
Growth reflects community’s health, experts contend.
Two hotels are spending more than $6.5 million to remodel, add on and build new in Troy.
The Dayton area has seen major hotel room growth in the past two years, with hundreds of new rooms coming online or being proposed. That’s an indicator of how healthy a community is, said Terry Baltes, hotel broker and owner of Baltes Commercial Realty.
A new Home2Suites is working on its foundation now at 1805 Towne Park Drive, said Troy’s economic development director Jim Dando. It will be a 60,900-squarefoot, four-story hotel with an indoor pool, with construction costs valued at more than $4.5 million, according to Miami County records.
The existing Holiday Inn Express & Suites is also spending more than $2 million on renovations and additions of 21,213 square feet at 60 Troy Town Drive, according to the records.
“It freshens the Holiday Inn. The best hotels obviously do remodeling from time to time and what I like about this it also increases the number of rooms,” Dando said.
The hotels will help with the high occupancy rates of Troy hotels. Home2Suites will be geared toward longer travels and the additional rooms at the Holiday Inn will meet the needs of the business community, Dando said.
“We have quite a few business travelers that come to Troy for training events at Honda, Hobart Brothers, Hobart Corporation,” Dando said.
The first Ohio Home2Suites
hotel opened in Liberty Twp. in 2016. There are also Home2Suite locations on Cornerstone North Boulevard in Centerville, which opened in October 2018, and 6615 Town Center Drive in Vandalia.
The first new downtown Dayton hotel in decades, the Fairfield Inn & Suites, opened with 98 rooms at the corner of Monument Avenue and Patterson Boulevard in October. A Holiday Inn Express & Suites at 2140 S. Edwin C. Moses Blvd. added 96 rooms when it opened in October.
Several businesses near Dayton hotels are growing and projects like UD and Premier Health’s redevelopment of the former county fairgrounds are driving guests to area hotels, UD Marriott general manager Ben Haller said.
A new 118-room boutique hotel is planned for the 10-story Barclay building formerly anchored by Miller-Valentine Group. A second boutique hotel is envisioned for the Price Stores building as part of the Fire Block District redevelopment.
The University of Dayton Marriott also wrapped up a $23 million renovation at its 399-room hotel in late 2017.