16 replies to this topic

[johnfwd]

The news that the Hyatt Hotel proposed for West Seventh Street (see Commercial thread today) is apparently off the table is not good for Fort Worth's tourism business.  Maybe the pandemic is mostly to blame, but I fear the city is in an economic recession and hotel projects are the most notable victims.

[Big Frog II]

The hospitality business is in shambles everywhere.

[eastfwther]

The news that the Hyatt Hotel proposed for West Seventh Street (see Commercial thread today) is apparently off the table is not good for Fort Worth's tourism business.  Maybe the pandemic is mostly to blame, but I fear the city is in an economic recession and hotel projects are the most notable victims.

Hotels are expected to be one of the slowest industries to recover from the pandemic.  And as someone noted in another thread, if your financing wasn't in place before the pandemic, you're project probably isn't going to happen.  

 

I personally don't get too misty-eyed about hotel projects being cancelled.  We have no idea what that industry is going to look like a year from now.   I'm sure I would feel differently if this were an office building bringing in good paying jobs.  

 

I still say that Fort Worth's push toward tourism and entertainment instead of business/white collar/tech jobs is risky.  Tourism/hospitality  is extremely susceptible to changes of all sorts and is usually the first to feel negative effects and the last to recover. 

[roverone]

There are still several hotels under construction downtown.  Nobody knows how that business is going to work out yet, it makes sense to put a hold on any not started projects.

 

Yes, of course the city is in recession, if we were not, we would be different than the state / country / world.  Maybe not "recession" to the letter of the definition of GDP and other indicators down for two quarters, but very close.  In this case it is not a mystery, we don't have to hypothesize the cause.  We know.

[John T Roberts]

I think the city is in a recession along with the state/country/and world.  I also agree that the other forum posters have nailed it about the hospitality industry.  Since the AC Hotel is so near completion, I think the developers will complete that project.  The only unknown about that project is if the hotel will actually open.  The new builds under construction should go ahead and complete their projects, but again, opening them up to guests could be delayed. 

[Austin55]

Under construction and should be opening within the next year,

Marriott AC, Kimpton, Sandman, Hotel Dryce, Hotel Drover, Hyatt Place TCU

 

Hotels that seem to be progressing but not broken ground

Museum Place Hotel, Hilton Garden Inn 

 

Proposed hotels with unknown status

Fire station hotel, Omni expansion, Convention Center HQ hotel (due to Convention Center expansion delays), American Airlines Campus hotel

 

Hotels that are cancelled

Hyatt W 7th

 

Hotels that had been quiet for some time even before pandemic

Residence Inn, Magnolia Ave, Hyatt House Downtown, Armour Hotel, surely others I'm forgetting

[Austin55]

I will note that while this is bad, there had been a lot of hospitality development before COVID. In the 7 years after the Omni opened, nothing was built or opened downtown. Since 2017 though 1200 new rooms opened up. 

 

Hampton Inn - 245
Aloft - 180

Sinclair - 165

AC - 243

Kimpton - 230

Sandman - 200

 

[eastfwther]

I will note that while this is bad, there had been a lot of hospitality development before COVID. In the 7 years after the Omni opened, nothing was built or opened downtown. Since 2017 though 1200 new rooms opened up. 

 

Hampton Inn - 245
Aloft - 180

Sinclair - 165

AC - 243

Kimpton - 230

Sandman - 200

 

That's why I'm not too torn up about a hotel not getting built. Let's see what the future looks like for the new ones we have now.  The last time I was in Houston, I stayed in a hotel I normally would  never stay in for a work trip.  The hotel's pre-covid prices were over $250 a night.  I stayed there for $65 a night.  It's going to be a while before the hotel industry returns to even close to normal. 

[johnfwd]

Before the pandemic, I recall the city was upbeat about the hospitality industry.  Take a trip down memory lane, if you will, with this February 1, 2017 Fort Worth Magazine article by Samatha Calimbahin.  Note also a piece about the proposed Hilton Garden Inn at 607 Jones Street

 

https://fwtx.com/cul...ing-fort-worth/

[roverone]

Although most of the future data in this report is for-pay, there are little bits of information visible that give you a sense of why the investment in hotel development would be on hold until things work out:

 

https://www.ibisworl...-united-states/

[elpingüino]

The Dallas Business Journal interview with Downtown Fort Worth's Andy Taft also covers hotels. He says the recent additions (AC, Sinclair, Harper) added 736 rooms and 576 are under construction. For the second number, Le Meridien will be 230 and the Sandman will be 245. Do we know what the remaining 101 planned rooms are?

The article also quotes him saying the Convention Center expansion is expected to be accompanied by a new 1,000-room hotel.

[John T Roberts]

I don't know where the remaining 101 planned rooms are going to be located.  I was aware of the Convention Center expansion featuring a new 1,000 room hotel.

[Austin55]

Avid Hotel maybe?

https://www.dfwi.org/go/avid-hotel

[John T Roberts]

_{Austin, I was thinking that was the one.  The room numbers are close, so that is a good possibility.  However, I have not heard anything about this hotel in quite some time.}

[Austin55]

There are a number of others that are in various stages of proposal or planning that it could be, but the Avid seems furthest along if it is still indeed happening.

[elpingüino]

Star-Telegram reports that hotels are bouncing back.

In Q3 2021, hotel revenues in Fort Worth-Arlington surpassed pre-pandemic levels by 6.7%. By comparison, revenues in Dallas still lag behind Q3 2019 levels by 8.1%. It helps that we've added 4,800 rooms in two years.

Fort Worth hotel revenues top pre-pandemic levels; recovery exceeds states rebound

[Stadtplan]

Looks like someone is finally going to build a hotel here.  I'm sure they could pickup some business from interstate travelers and sports fans in town looking for something a little more affordable.  I've stopped at this Lowes before and wondered what this "no man's land" was between I-30 and the parking lot but never had the courage to drive back in there and see for myself. 

 

https://www.tdlr.tex.../TABS2022013454

 

PROJECT

Project Name: Home2 Fort Worth, East Chase

Project Number: TABS2022013454

Facility Name: Hilton Home2

Location Address: 1225 LITTLE CINA LN, FORT WORTH, TX 76120 SUITE 150

Fort Worth, TX 76010

Location County: Tarrant

Start Date: 7/1/2022

Completion Date: 7/1/2024

Estimated Cost: $8,000,000

Type of Work: New Construction

Type of Funds: This project is privately funded, on private land for private use.

Scope of Work: NEW CONSTRUCTION OF A 4 STORY WOOD FRAMED HOTEL WITH MEETING SPACE, BREAKFAST AREA, AND FITNESS.

Square Footage: 64,142 ft 2

 

OWNER

Owner Name:

Whitestone Hospitality

Owner Address:

1200 W. Walnut Hill Lane Suite 2525, lrving, Texas

IRVING, Texas 75038