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FEASIBILITY STUDY SUGGESTS CITY OF CENTRALIA CAN SUPPORT A NEW HOTEL

March 1, 2016

Centralia, Missouri – The results of the study conducted by Growth Services Group (GSG) of Moberly, MO, a national workforce intelligence and consulting firm, are in.  The conclusion of the study is that the community should be able to support a 33-room, mid-level hotel with a recommended rate range of $109.99 to $120.99. The study was a joint project of Centralia, Regional Economic Development, Inc. (CREDI), the Centralia Area Chamber of Commerce and the City of Centralia.  The full report is available at Centralia City Hall (114 S. Rollins Street) or it is also available on line, free of charge at: http://growthservicesgroup.com/wp-content/uploads/Centralia-MO-Market-Feasibility-Study-Final.pdf

 

This Study provides a demographic and economic overview of the subject area and determines that a new greenfield hotel development is feasible.  The Study recommended that the project include a Business center, banquet space to accommodate more than 25, hot breakfast, bar/lounge area, fitness room, and pool.  The study concludes with projections for investment amounts and the potential revenues from such a facility.

 

CREDI President, Damon Reynolds said, “we are very excited with the outcome of the feasibility study and we are encouraged by the prospects of this project moving forward.”

 

Mayor Tim Grenke added, “This is something that I have been looking (working) for since I became the mayor.  I have always felt we could sustain a hotel and this community would come together and support it.  The number of community, business, and school events, in my opinion, could be sufficient to make this happen.”

 

Teri Evans President of the Centralia Area Chamber of Commerce noted, “A hotel in our community would be very welcomed and provide a great option for business travelers, family visitors, as well as the many sporting event participants.  Centralia has a lot to offer visitors with a great 5 Star rated Public Library, Historical Museum, Chance Gardens, Centralia Battlefield, a newly renovated zero entry City Waterpark/pool, Recreational Center, and beautiful city parks, along with restaurants and retail businesses with a lot to offer our visitors.”

 

City Administrator, Matt Harline said, “The need for a hotel in Centralia has been identified by the community for a while.  This study proves that it could be a viable project.”  Harline went on the note that one hotel chain has contacted the City, “Efforts are underway to look for potential investors.  If anyone is seriously interested in investing in a hotel they can contact CREDI at pres@centraliaredi.org.”

 

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