The Town of Benson has just completed a feasibility study to see if the town was suitable, in the current real estate market and economy, for a hotel.
The report released Friday said the Town would be suitable for a 70 to 80 room, limited service Flag hotel of midscale to upper-midscale quality.”
The Benson Board of Commissioners adopted a resolution two years ago, in June 2013, involving a hotel incentive policy. It was determined an updated feasibility study would be the next step to take.
ElectriCities of North Carolina assisted the Town in the process and partnered with Williams Appraisers Inc. of Raleigh to conduct the study.
Williams Appraisers, Inc. has years of experience conducting similar studies at the municipal government level. The group conducted their own field investigation and utilized hotel and market information data from firms such as Price Waterhouse Coopers Hospitality and Leisure Group, Smith Travel Research, and PKF Consulting.
The study discussed current market trends at the local, state, and national level in addition to Benson’s competitive geographical location in the surrounding hotel market segments. The study identified, “that a hotel facility within the jurisdiction of Benson, NC is feasible provided a development and construction period of 12 to 24 months.”
“Completion of a new hotel market analysis and feasibility study demonstrates to our residents, visitors, business owners, and other community stakeholders that the Town of Benson is committed to investing in its future by supporting existing and future business, economic development, and education initiatives. The results of this study bolster the Town of Benson’s active promotion of available properties to potential developers,” said Karissa Bergene, the Town of Benson’s Economic Development Director.
