Two hotels costing a combined $16 million are set to be built in Amarillo, Texas, a sign of a strengthening market writes Amarillo.com. Hoteliers Dipak and Sangita Patel plan construction of a Hampton Inn & Suites and a Holiday Inn with a restaurant and convention space on a 12.5-acre site.
According to the article, the Hampton Inn and Holiday Inn properties will be the second and third hotel projects launched since last fall, when construction started on a $6.2-million Home2 Suites by Hilton.
Amarillo’s hotel market reportedly sold 1.4 million rooms in 2013, a 7.8-percent increase over 2012, said Jan Freitag, VP of STR.
The market experienced 3 percent and 2 percent year-over-year increases in 2012 and 2011, according to STR statistics.
The average occupancy in the Amarillo market last year was 61.7 percent, a 5-percent gain over 2012, Freitag said.
The 127-room Hampton is slated to open in the first quarter of 2016.
The Holiday Inn West Medical Center is adjacent to the Home2 Suites construction site.