A Texas-based firm, convinced the hospitality industry has survived the worst of the pandemic, plans to develop a new hotel project in New Braunfels along the banks of the Guadalupe River.
The Springhill Suites by Marriott at River Village is expected to cost more than $40 million to construct and could help the historic city some 30 miles north of San Antonio grab a larger share of travel business stakeholders believe is on the rebound.
, president and COO of Oldham Goodwin, which is based in Bryan and has offices in multiple cities, including San Antonio."If you look at New Braunfels in particular, it was a market that really performed exceptionally well during Covid." Work on the new hotel, which will span some 136,000 square feet and house more than 140 rooms, is expected to begin in the third or fourth quarter of this year on a site south of Highway 46, tucked between Interstate 35 and one of the state's more popular waterways. The seven-story hotel is expected to be completed by early 2025, which will put its opening roughly five years after the outbreak of Covid-19, a virus that put the industry in a tailspin. Confirmation of the project follows a new survey conducted by Morning Consult for the American Hotel & Lodging Association which found that 60% of Americans are more likely to stay in hotels this year than in 2022. That same survey also indicates that business travel is rebounding.While some projects in the region were started pre-pandemic and pushed on to completion despite the uncertainties, new hotel construction starts — including the Springhill Suites project — may be a better barometer of that heightened confidence. Part of New Braunfels' appeal are its multiple rivers that flow through the city, offering a variety of outdoor activities. Oldham Goodwin, which also has brokerage and management services expertise, plans to tap into those Hill Country assets with its latest build.will have waterfront access. It will have a resort-style feel," Goodwin said."it's going to have quite a bit of meeting space. it's going to have very robust food and beverage offerings." Oldham Goodwin, which has developed or repositioned several hospitality projects, is teaming with noted chef and restaurateur on the New Braunfels venture. Goodwin said others interested in the development can reach out to the firm's Capital Division.
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