The property, which sits at the Dawson/Davie intersection, will soon be a 12-story, 187-room Courtyard by Marriott.
Amit Patel, president of Winwood, told ABC11 that construction of the Courtyard will start in late 2019. The group already owns four hotels, with a fifth set to open in February 2019.
- Embassy Suites RDU/Brier Creek
- Hampton Inn & Suites RDU/Brier Creek
- Hampton Inn & Suites Raleigh/Crabtree Valley
- Hilton Garden Inn Raleigh/Crabtree Valley
- Courtyard by Marriott (opening Feb 2019, Cary Parkside Town Commons)
"We want to see how those are absorbed in the market," Patel said before committing to building a large hotel that meets the needs of the Raleigh Convention Center.
In terms of existing hotel space downtown, "We've done great with what we got," said Loren Gold, executive vice president for the Greater Raleigh Convention and Visitors Bureau. "We can do even better with the right type of hotel."
Gold said the city is losing out on conventions to other cities because of the lack of hotel space near or next to the convention center that satisfies three business channels: leisure travel, business transients, and event-driven travel, which includes meetings and conventions.
"Big hotels can do all three channels," Gold said. "Smaller hotels can usually do one or two of those channels."
The Bureau's Destination 2028 plan outlines the need for a much larger hotel in the right location.
"You've got to have proximity to the convention center. You can't build a large hotel six blocks away," Gold added. "Attendees love to come into a destination. That doesn't mean they want to walk six blocks a day coming out of their hotel room to walk to the convention center. They'd rather walk one block."