Investor/Developer

Drury Hotels' big Cleveland bid

26 Mar, 2013
 


Drury Hotels was the high bidder in the auction of the Cleveland Board of Education Building, Cleveland's Plain Dealer reports, and now, the mostly budget-conscious brand, will look to convert the historic building into a Drury Plaza with about 180 rooms. If Cleveland's school board signs off on the deal next month, Drury aims to open its Cleveland hotel by late 2015.

Since the late 1980s, The Plain Dealer reports, the family-owned and-operated business has opened a handful of hotels in historic buildings. The company would be entering a crowded marketplace for hotel proposals, inpart because of the new convention center opening this year.

"The thing that's absolutely needed is a large, new convention hotel, probably a 600- to 800-room hotel, attached to the convention center," said David Gilbert, the president of Positively Cleveland, the city's convention and visitors bureau, to The Plain Dealer. "It's a bit of a catch-22. There's a balance of new rooms needed. But if you add a bunch more hotels at 200 rooms, it starts to make it a bit tougher from a demand standpoint for a convention-center hotel to happen."

Some new projects include a 150-room Aloft hotel will open at the Flats East Bank project in June. Next year, the former Crowne Plaza at St. Clair Avenue and East Sixth Street will reopen as a Westin, after a $64-million renovation.
 

Topic : Cleveland, Drury Hotels
External Source : The Plain Dealer
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