What are the market conditions for a Headquarters Hotel in Portland?
In Spring 2006, the hospitality consulting firm of PKF Consulting completed a market evaluation and analysis of the hotel’s first ten years of operations (create link to document). This includes a review of local market conditions, recommendations related to the program and amenity package of the proposed HQ Hotel, and projections of the facility’s performance. PKF’s key HQ Hotel findings include the following: • Hotel occupancy in the Central City has risen from 64 percent to 74 percent since 2001 through 2005. • The OCC HQ Hotel size should be 600 rooms to capture the minimum 500-room block required by most large meeting planners. • The OCC HQ Hotel should contain 41,000 s.f. of ballroom and meeting space. • A HQ Hotel will be neutral or beneficial to competitor hotels. • Approximately 104,000 net additional room nights should be captured annually by the addition of a headquarters hotel (61,000 convention-driven, 43,000 in-house group).
