South Meadows hotel targets extended-stay business travel
In an effort to tap the market of business travelers coming to the region for a week or more, Laxmi Hotels owner Sushil Patel is building an extended-stay hotel in South Meadows.
Patel, owner of the Hampton Inn at 10599 Professional Circle, says the Hampton Inn is a transient hotel, with guests typically staying no more than three nights. The new 96-room, four-story Staybridge Suites next door will cater to guests staying a week or more. Rooms include full kitchen amenities.
“We are going after different clients,” Patel says. “Essentially we are capturing two different markets, and they are two different brands.
The Hampton Inn is a Hilton-branded hotel, while Staybridge falls under the umbrella of InterContinental Hotels Group, which owns the Holiday Inn brand.
General contractor Tanamera Development broke ground in February on the 65,000-square-foot Staybridge Suites, and subcontractor Frame Tech Construction of Sparks had the building framed out by the end of May. The project is scheduled to be open by mid-October.
Patel says with the current economic situation, contractors were able to adhere to a fast-track build schedule.
“We put a stringent schedule on it, and they complied,” Patel says. “Typically these buildings take so much time because subs are all so busy.”
Several months of cooperative weather helped the construction schedule, Tanamera Commercial Superintendent Warren Hall says.
“Everything is actually going pretty smooth,” he says.
Laxmi Hotels is developing another business hotel at Robb Drive and Interstate 80 in northwest Reno. The project is slated to break ground in next four to six weeks, Patel says.
Today, RSAR published its newest monthly market report, revealing a median price for single-family homes of $415,000 for Reno/Sparks in March.