updated: 5/15/2012 12:08:03 PM

Study: Evansville Could Sustain $40 Million Hotel

InsideINdianaBusiness.com Report

A market analysis suggests downtown Evansville could sustain a $40 million hotel of up to 270 rooms. Our partners at the Evansville Courier & Press report Mayor Lloyd Winnecke called for the study after the Evansville-based Kunkel Group Inc. proposed a 220-room, $33 million hotel.

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The Kunkel Group says it could expand the number of rooms in its original plan to match the market analysis prepared by Chicago-based Hunden Strategic Partners. The city paid $75,000 for the study.

Hunden suggested the hotel should offer services aimed at attracting convention business. The study suggests the facility could help boost business at the Centre convention facility and the Ford Center.

Kunkel's plan was approved in December by the outgoing Evansville City Council. The proposal called for the city to provide $8 million in incentives.

Source: Evansville Courier & Press

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