The Maryville City Council has approved a hotel feasibility study aimed at evaluating opportunities for new lodging development in the community.
The city’s Tourism Committee requested an updated hotel plan last year, and the council selected a company to conduct the study during its meeting earlier this week.
City Manager Ryan Heiland said Place Dynamics, a Wisconsin-based consulting firm, submitted the lowest bid for the project at an estimated cost of about $16,000.
Heiland said the company has experience working with rural and college communities similar to Maryville.
“The company itself has experience working with rural and college town communities similar to Maryville, so it seems to be a good fit for being able to do this study,” Heiland said.
The city budgeted $20,000 for the project.
Heiland said the study could help attract national hotel chains to the region while also providing useful information for local tourism leaders and potential investors.
“It’s also an ability to provide developers and local investors with an updated look at what the market is, what types of interest there might be in our type of market right now,” he said.
The city’s last hotel study was completed in 2013 and helped attract a hotel to Mozingo Lake Recreation Park, which now operates as Cobblestone Suites.
Maryville collects a guest tax on hotel properties, making new hotel development a potential source of additional revenue for the city.
The council approved the study unanimously. The report is expected to be completed by early June.