Orange County Receives Final Report From Hotel Feasibility Study
Orange County, VA – Earlier this year, Orange County hired Core Distinction Group to conduct a lodging market feasibility study. The study focused on the Town of Gordonsville, Town of Orange, and Locust Grove (specifically the Route 3 Corridor). It was determined that the markets in the Town of Orange and Locust Grove have the highest viability.
The recommendation for the Town of Orange property segment indicated a newly developed, boutique style hotel with 35-45 guestrooms would sufficiently meet the Town’s and surrounding area’s lodging demands.
The recommendation for the Route 3 Corridor in Locust Grove indicated that a newly developed, upper midscale hotel with 65-75 guestrooms would sufficiently meet the lodging demands of Locust Grove.
Detailed proformas that include return on investment figures, as well as the full lodging market feasibility study for both recommended areas, are available and can be obtained by contacting the Orange County Economic Development office. Phil Geer, Director noted, “we will use the research and results obtained from our consultant to solicit investors, developers, and major hotel brands to bring additional lodging options to our community, which are needed by our local businesses and tourism industry.”
For more information regarding this study, please contact Phil Geer, Director at (540) 672-1238.