What market evidence supports a Headquarters Hotel in Portland?
In April 2006, the economic consulting firm, ECONorthwest, completed a market study for the HQ Hotel. Their findings report: • The HQ Hotel will generate a substantial increase in occupied room nights, visitor spending, jobs, and tax revenue in the Portland region. • Nationwide demand for convention and exhibition space is expected to grow at rates close to historical averages over the long run but the market will become increasingly competitive. • The national/international meeting market represents the primary opportunity to increase use and economic impacts of the OCC. • The lack of a HQ Hotel is the primary obstacle to attract more national/international conventions. Without a HQ Hotel, the OCC’s share of the national/international market will decline. With a HQ Hotel, the share will increase.
