While the Dallas-Fort Worth Metroplex has, like the rest of the nation, suffered from the sagging economy, the impact on the hotel and hospitality industry has been somewhat less than might be expected. Some projects have pulled back, but several others are still on track.One such development is in its embryonic stages; the University of North Texas System and City of Denton\u2019s negotiations with John Q. Hammons for the development of a full-service hotel with meeting and convention facilities on university-owned property. The UNT System issued a request for redevelopment proposals in September seeking an experienced developer and operator to plan, finance, design, build and operate a hotel and convention facility on the site of the former Radisson Hotel on Interstate 35. Negotiations leading to a project agreement, which are in the early stages, could take up to six months to complete. The city\u2019s participation in the project would be limited to the convention center component only, creating a public-private development wherein hotel-motel occupancy taxes would supplement private funding. The hotel and convention facility would be operated by John Q. Hammons Hotels & Resorts, which is based in Springfield, Mo., and has more than 80 hotels under management. \u201cThis is very forward looking,\u201d Terry Clower, associate director for the Center for Economic Development and Research at the University of North Texas, told CPN. \u201cWe\u2019re not talking about having a hotel up and in the marketplace six months from now.\u201d While travel spending is down now, Clower said university officials are not making these investment decisions based on what is going on right now, but what may be happening in one to two years from now. Across the Dallas-Fort Worth area, there have been some notable projects that have decided to delay opening or construction because they found it harder to get the capital they need to proceed with projects, Clower said. However, there are others that have continued to proceed. \u201cIt depends on what stage they\u2019re at,\u201d he said. \u201cA hotel starting today isn\u2019t planning to open next week and those that are delaying may be the result of their own financial situation from who their partners are to what banks are involved. If you have the financial capacity to move forward now, the time is right because you can get more competitive bidding for construction and materials. So it is not a bad time to build.\u201d Other recent projects include a new Courtyard by Marriott Dallas-Allen Hotel & Conference Center in the Dallas suburb of Allenm which topped out on Feb. 27. The nine-story, 228-room\/suite hotel and adjoining 15,000-square-foot conference center is owned by John Q. Hammons and will be operated by John Q. Hammons Hotels & Resorts. The project is scheduled to open this fall. And on Jan. 12, the Omni Fort Worth Hotel opened. In November, Omni Hotels announced that the brand was recommended by the city of Dallas Economic Development Committee to become the operator for the 1,000-room Dallas Convention Center Hotel, slated to open in 2012.<\/p>\n","protected":false},"excerpt":{"rendered":"
While the Dallas-Fort Worth Metroplex has, like the rest of the nation, suffered from the sagging economy, the impact on the hotel and hospitality industry has been somewhat less than might be expected. Some projects have pulled back, but several others are still on track.One such development is in its embryonic stages; the University of…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003948761","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n