Business continues to boom
Paducah, KY - Paducah Sun
Retail expected to crop up following newest hotel
July 21, 2007 - Shops and restaurants are projected to be the next phase of growth for Coleman Crossing business park, which will boast three hotels totaling 267 rooms come spring:
- Midas Hospitality, a St. Louis firm that owns and runs hotels, is developing 85-room Candlewood
Suites just north of new Higdon Furniture off Coleman Road. Midas plans to break ground in
September and have the $5 million, four-story hotel open by spring.
- The 74-room, $8 million Residence Inn by Marriott opened Thursday across the street from Paducah
Hampton Inn & Suites, a 76-room, 32-suite hotel that started booking in April. Both are on Coleman
Crossing Circle, which runs through the heart of the business park off Interstate 24.
“Now that these hotels are going up, I think what will happen next is that Coleman Crossing will fill out with retail and restaurants,” Midas Development Chief Operating Officer David Robert said. “Not a lot of new hotels have been built in Paducah in recent years, so there was some significant pent-up demand.”
Coleman Crossing also features the $5 million Higdon store that opened in late May and the neighboring, $7 million Mike Smith Toyota-Scion dealership that started selling cars in April. Just south of the park site, Outback Steakhouse has done exceptional business next to Drury Inn, so it’s just a matter of time before stores and eateries come to Coleman Crossing, developers say.
“There have been people from several restaurants chains in town looking,” said David Puckett, a partner in Louisville’s The Marshall Group, which built the Marriott. “With an additional 85 rooms, that’s going to make almost 300 rooms within walking distance of a potential one or two restaurant sites.”
Representatives of two restaurant chains have expressed interest, but haven’t yet committed to the park, said co-developer Phil Higdon of Paducah.
“You never know until they sign, but I think it’s pretty standard that restaurants and retailing follow the growth of hotels.”
Higdon, whose family operates the furniture store, said he is considering building a retail office complex in Coleman Crossing. One potential site is just north of Century 21 Realty; the other is on 10 acres near railroad tracks that separate Coleman Crossing with Heartland Business Park to the north.
Extended-stay hotels
The Mariott has six two-bedroom suites, 16 one-bedroom suites and 52 studio suites that may be rented nightly or for weeks. All have kitchens with granite counter tops, full-sized refrigerators, microwaves, dishwashers, stoves, garbage disposals and kitchen cabinets filled with pots, pans and utensils.
Other features are a fitness center, indoor pool and hot tub, sports court, and outdoor barbecue area and Wednesday night cookouts, and free hot breakfasts, wireless Internet and grocery-shopping services.
General manager Jennifer Dearness said the hotel has already booked a business guest for 100 nights.
“Most of our extended-stay guests are business people on assignment,” she said. Others are people who are out of their homes during fire or flood repairs, or who are building homes and have already sold their former houses.
Demographic research showed a lack of mid-to-upper-level, extended-stay hotels in Paducah, Marriott co-owner Van Stoutt said.
Candlewood Suites also will cater to extended-stay customers. All rooms will have full kitchens, deluxe recliners and large televisions. Other features will be an extensive fitness center and large theater room with a 52-inch plasma TV with stadium seating for sports and movies.
“We’re mid-priced, not quite as pricey as the Marriott,” Robert said. “We think there’s a need in the market. There are people who are staying more than a week, and when they do they want more of an at-home feel.”
Robert said the Paducah market has a diverse business base with the nuclear, medical and barge industries and governmental contracting that attracts many business travelers.
“The lakes add demand, too,” he said. “It’s just a natural pit stop between Nashville and St. Louis.”
Paducah, KY - Paducah Sun
Retail expected to crop up following newest hotel
July 21, 2007 - Shops and restaurants are projected to be the next phase of growth for Coleman Crossing business park, which will boast three hotels totaling 267 rooms come spring:
- Midas Hospitality, a St. Louis firm that owns and runs hotels, is developing 85-room Candlewood
Suites just north of new Higdon Furniture off Coleman Road. Midas plans to break ground in
September and have the $5 million, four-story hotel open by spring.
- The 74-room, $8 million Residence Inn by Marriott opened Thursday across the street from Paducah
Hampton Inn & Suites, a 76-room, 32-suite hotel that started booking in April. Both are on Coleman
Crossing Circle, which runs through the heart of the business park off Interstate 24.
“Now that these hotels are going up, I think what will happen next is that Coleman Crossing will fill out with retail and restaurants,” Midas Development Chief Operating Officer David Robert said. “Not a lot of new hotels have been built in Paducah in recent years, so there was some significant pent-up demand.”
Coleman Crossing also features the $5 million Higdon store that opened in late May and the neighboring, $7 million Mike Smith Toyota-Scion dealership that started selling cars in April. Just south of the park site, Outback Steakhouse has done exceptional business next to Drury Inn, so it’s just a matter of time before stores and eateries come to Coleman Crossing, developers say.
“There have been people from several restaurants chains in town looking,” said David Puckett, a partner in Louisville’s The Marshall Group, which built the Marriott. “With an additional 85 rooms, that’s going to make almost 300 rooms within walking distance of a potential one or two restaurant sites.”
Representatives of two restaurant chains have expressed interest, but haven’t yet committed to the park, said co-developer Phil Higdon of Paducah.
“You never know until they sign, but I think it’s pretty standard that restaurants and retailing follow the growth of hotels.”
Higdon, whose family operates the furniture store, said he is considering building a retail office complex in Coleman Crossing. One potential site is just north of Century 21 Realty; the other is on 10 acres near railroad tracks that separate Coleman Crossing with Heartland Business Park to the north.
Extended-stay hotels
The Mariott has six two-bedroom suites, 16 one-bedroom suites and 52 studio suites that may be rented nightly or for weeks. All have kitchens with granite counter tops, full-sized refrigerators, microwaves, dishwashers, stoves, garbage disposals and kitchen cabinets filled with pots, pans and utensils.
Other features are a fitness center, indoor pool and hot tub, sports court, and outdoor barbecue area and Wednesday night cookouts, and free hot breakfasts, wireless Internet and grocery-shopping services.
General manager Jennifer Dearness said the hotel has already booked a business guest for 100 nights.
“Most of our extended-stay guests are business people on assignment,” she said. Others are people who are out of their homes during fire or flood repairs, or who are building homes and have already sold their former houses.
Demographic research showed a lack of mid-to-upper-level, extended-stay hotels in Paducah, Marriott co-owner Van Stoutt said.
Candlewood Suites also will cater to extended-stay customers. All rooms will have full kitchens, deluxe recliners and large televisions. Other features will be an extensive fitness center and large theater room with a 52-inch plasma TV with stadium seating for sports and movies.
“We’re mid-priced, not quite as pricey as the Marriott,” Robert said. “We think there’s a need in the market. There are people who are staying more than a week, and when they do they want more of an at-home feel.”
Robert said the Paducah market has a diverse business base with the nuclear, medical and barge industries and governmental contracting that attracts many business travelers.
“The lakes add demand, too,” he said. “It’s just a natural pit stop between Nashville and St. Louis.”
11469 Olive Blvd. #272
St. Louis, MO 63141
Phone: 866-945-7177
Fax: 636-724-1601
St. Louis, MO 63141
Phone: 866-945-7177
Fax: 636-724-1601
Midas News
© 2010 MIDAS HOSPITALITY
