Town of Cary booming, driving demand for more hotels: Boomtowns

CARY, N.C. (WTVD) -- One of Wake County's fastest-growing boomtowns will soon have more hotel options, with locations such as the MacGregor Village shopping center and Cary's North Harrison Avenue on the map.

The town approved plans for a Residence Inn By Marriott for MacGregor Village and another hotel is planned at 1623 N. Harrison Ave.

"It doesn't surprise me at all," Visit Raleigh's Dennis Edwards said. "There's a big need for hotels in the Cary market."

The Town of Cary thrives in several different areas that are driving demand for hotels, according to Edwards.

"Cary has some of the best sports complexes in the country and that helps drive a lot of demand," Edwards said. "Then we look at business travel and we look at companies ... new companies like Apple that's moving into the market. That just generates additional demand."

Average U.S. hotel occupancy is projected to reach 63.8% in 2023, according to the American Hotel & Lodging Association.

The Town of Cary exceeds that at 71.4%, according to Edwards.

"So they're already doing better than the county, state, or national averages," Edwards said. "Which tells the hotel developers that there's definitely a need out there for additional hotel rooms."

The town is booming with new developments, from Fenton to Cary's downtown park spanning seven acres.

"We used to be a bedroom community, where everybody was here and then left," Cary economic development director Ted Boyd said. "Now, we're becoming a place where people want to go to sporting events, concerts, and they want to spend and explore new restaurants that are in through our downtown, especially the downtown park as well."

Boyd said the fact that the hotel community wants to construct and build is an indicator that there's a market for that.

Cary Mayor Harold Weinbrecht echoed that and said new hotels are a reflection of Cary's economic strength and business environment.

Check out the ABC11 Boomtowns Special Section to see other areas that are booming.