Study finds market for a hotel in Farmington
Ask around, and just about anyone would agree – Farmington really could use a hotel. Now that reality is one step closer.
A feasibility study was conducted by Hospitality Consulting Group last fall, in order to determine whether a hotel could be successful in Farmington. The results affirmed what many have suspected. Farmington could, in fact, use a hotel.
The results indicated that Farmington could support a 36-room hotel, with a few amenities such as an indoor pool, an exercise room, meeting rooms and a business center.
“They took a very conservative approach to where it could be located, where it would break even, and so on. I was happy to see that,” McKnight said.
The nearest competition for hotel rooms is in Apple Valley and Lakeville. The Holiday Inn & Suites in Lakeville has the most rooms in the area, with 132, while the AmericInn Hotel & Suites in Lakeville has the least rooms with 48.
The study focused on placement of a hotel in the Vermillion River Crossings development on County Road 50 and Denmark Avenue. That’s not necessarily where the hotel will end up, though. That’s a decision for the builder and the landowner, Farmington Land, LLC.
The cost of the feasibility study was paid by BriMark Builders and the city of Farmington.
“We split the cost because we both have an interest in it,” McKnight said. “I think this is something the city council wanted to know — can we support a hotel in this town — and the study said yes.”
A hotel could open up some new possibilities in Farmington.
If the city had a hotel, youth athletics could hold weekend tournaments and the visiting teams could stay in town. Guests of local weddings would have overnight accommodations. Visitors to the area could stop and spend an evening in the community.
The city will assist BriMark as well as it can if the project progresses. According to McKnight, the builder is now looking at land purchase options, and trying to find investors to support the project.