Graham releases hotel feasibility study

The Graham Economic Development Corporation, in partnership with the Graham Convention and Visitors Bureau, ordered a financial feasibility study of building and operating a 90-unit limited or select service hotel in Graham from Source Strategies. The study was ordered to present to potential hotel companies the financial incentives Graham offers for a hotel investment.

GEDC Director, Grant Ingram, said the study was conducted due to an increase in demand for hotel rooms throughout the year and especially on weekends. In order for companies to consider Graham as a viable option for a hotel construction project Ingram said they required data to back up the potential investment in the community.

“(...) we’re seeing a huge demand from leisure travel to work-related travel. So it’s important for us to be able to accommodate the demand. Right now, our hotels are sold out. The occupancy rate is extremely high, which is a great thing. The (...) CVB receives the HOT (Hotel Occupancy Tax) funds from that which allows us to promote Graham as a tourist destination. But we’ve seen the need for additional hotel rooms in our market. So the economic development (corporation), in partnership with the CVB, decided to reach out to a hotel feasibility study company, which will allow us to ideally, attract a new hotel,” he said. “I spent quite a bit of time reaching out to different hotel owners and developers and the feedback that I continued to receive, while it sounds great, they needed to see the hard data to back up our claims for the demand. (...) we internally see it, we see our hotel rooms full, we see all the events that are taking place in town, we see the wind farm travel that’s starting to increase. But in order for us to be (...) taken seriously from someone, or a company, that may look to invest and develop a multimillion dollar hotel, we believe it to be beneficial on our end to go ahead and order this study.”

The study, received Monday, May 2, uses Home2 Suites by Hilton as a model at two possible locations within the city. The main location that was deemed the “most desirable site” in the study was the former location of the American INN in Graham at 1516 South Hwy. 16. Ingram said the Graham Industrial Association purchased the property in 2021 for a potential project within the city.

“The Graham Industrial Association, the private entity of our economic development, back in early 2021 purchased the old American INN property, which is no longer there. We’ve torn down the structure and purchased the additional acreage directly behind the property to extend our footprint. That is our primary location that we are hopeful to see a new hotel development,” he said. “(It’s in) close proximity to dining options, close proximity to the lake, (it is a) high trafficked area. Walmart’s convenient, United’s convenient. I mean, you’re not too terribly far from this from the downtown square. It’s owned, again, by the Graham Industrial Association, so we do have some leverage when it comes to offering up that property as the ideal site for a new hotel.”

For the full story, see the Saturday, May 21 edition of The Graham Leader.