The competition among hotels for business travelers to south Reno heated bit more last week with the sale of land in South Meadows to a company that plans a 135-room Hilton Inn.
The Corporex Company hopes to begin construction on the five-story hotel by May, with opening about a year later, said Jim Warshawski, senior vice president for real estate for the company based at Covington, Ky.
The company purchased 2.83 acres on Double R Boulevard from RR Boulevard Investments.
Warshawski said the company likes the property's visibility from Highway 395 as well as the number of business travelers generated by companies in South Meadows.
"We've been scouting around Reno for some time," he said, noting that Corporex at one point gave a serious look to the property at Kietzke Land and South Virginia where Station Casinos now plans a boutique hotel and casino.
Corporex isn't alone in seeing a market for business-class hotels in the area.
A four-story Hampton Inn & Suites arising at 10599 Professional Circle that's along Highway 395 in South Meadows is taking reservations beginning in March.
Meanwhile, Intermountain Management LLC of Monroe, La., has been talking with officials at Reno-Tahoe International Airport about a business-class hotel on airport-owned land near Plumb Lane and U.S.
395.
That hotel, tentatively slated for construction beginning next spring, is projected to include about 125 rooms.
Intermountain also plans a Homewood Suites hotel in Mountain View Corporate Centre near Kietzke Lane and Neil Road.
Warshawski said his company is convinced there's sufficient unmet demand for business hotel space to support his company's plans along with those of competitors.
Corporex has developed hotels in the Cincinnati area, as well as Florida and New York.
The company also has developed industrial and commercial space.
Len Ramos of CB Richard Ellis in Reno represented Corporex in its purchase of the land in south Reno.
Ken Stark of Stark & Associates represented the seller.
Comments
Use the comment form below to begin a discussion about this content.
Sign in to comment