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4-story, 81 room Comfort Suites hotel with indoor pool just starting construction at 1100 S. Meridian.
Building permit was for $5 million.
This site was formerly Molly Murphy's and most recently Logan's Roadhouse, although it's been vacant for quite a while.
I miss Molly Murphy's...
I was wondering if something was going on there as I believe there's been some earth moving going on
Is there really a demand for hotel/motel rooms in OKC? I suppose they know their business, but it just seems like there are a load of them. I personally can't fathom why there are so many out west (Meridian/MacArthur).
I think the economics are such that you don't need a high occupancy rate to be profitable.Quote:
Originally Posted by Dubya61
Interest rates are super low and these chains have construction down to a science.
I also think that the newer places just tend to cannibalize the older ones, at least in the areas outside of downtown.
Am I the only one who thinks the schematic drawing makes the building look forbiddingly too big for the lot it's going to be built on? I drove by there yesterday and it didn't look big enough for a hotel. Maybe it's just me.