Study suggests Oklahoma City can support $200 million, 735-room conference hotel

By Steve Lackmeyer Modified: December 13, 2013 at 9:52 pm • Published: December 14, 2013
Two reports being delivered Tuesday to the Oklahoma City Council advise that the city can support construction of a 735-room conference hotel as part of development of a new convention center.

Texas consultant Jeremy Stone's study, compiled though visits with local hoteliers and analysis of local hospitality data, reports five full-service, “competitive” hotels enjoyed average room occupancy of 75.6 percent, with an average daily room rate of $129 in 2012.

After consideration of additional limited-service hotels being built or planned in Bricktown and Deep Deuce, Stone's report concludes that a new conference hotel, if it opened with the new convention center in 2019, would hit 56 percent occupancy that first year, jump to 64 percent the next year, and average out at 66 percent occupancy in 2022.