Raleigh hotel projects taking shape; but some time before shovels will be in the ground

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There are signs that a hotel building boom may be on its way for Raleigh, though it may be a few years before the shovels are in the ground.

The News and Observer reports, for example, that Winwood Hositality Group has acquired the Enterprise Rent-A-Car site north of the Raleigh Convention Centre.

The Morrisville hotel developer paid $4.05 million for the .57 acre site, but it will extend Enterprise’s lease for 24 months as it plans and obtains approval for the hotel project.  The company anticipates constructing a 10 to 12 story hotel, with about 175 rooms.

With high hotel occupancy rates, there is demand for new buildings but it is taking time for them to be built.

Summit Hospitality Group is expected to break ground later this year on a 166-unit Marriott Residence Inn on the west side of Salisbury St., the newspaper reported, noting that several other hotel developers are considering projects.

Earlier this year the city hired a company to do a hotel feasibility study of the downtown market to determine how many additional rooms are needed.

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