The results are in: It looks as if visitors to the area could use a place to stay overnight in Lakewood.
The engineers of a $7,000 feasibility study identified and recommended four spots in Lakewood that could support a hotel.
“Based upon our analysis, we believe that the potential exists for a new hotel to be developed within the city of Lakewood,” according to the study, conducted by Lakewood-based Hotel & Leisure Advisors.
“The new hotel would attract demand from downtown Cleveland, Cleveland Hopkins International Airport area, various west shore suburbs, and businesses and individuals in Lakewood."
Last year, Lakewood City Council approved a feasibility study to see if a hotel within city limits could work (in addition to the Days Inn on Lake Avenue).
Turns out there are four specific areas in Lakewood where a hotel would work, according to the study:
- Downtown Lakewood. City officials have said a logical location for a hotel in downtown Lakewood would be in Lakewood Center North.
- West End of Lakewood
- Off of Interstate 90, possibly at the Warren Road or Bunts Road interchange
- East End of Lakewood, somewhere near W. 117th Street and Clifton Boulevard
The 145-page study recommends a “branded hotel" offering between 60 and 100 rooms:
"Being affiliated with a national hotel chain affords the property name recognition and popularity among brand loyal hotel guests. While a boutique-style hotel remains an option given the smaller room count, the Lakewood market lacks the strong demand generators essential for a small, independent hotel to thrive.
A branded hotel will be more likely to attract overflow demand from Cleveland, Westlake, and other communities than an independent boutique hotel.”
The study also points to several attractions in the area, including Beck Center for the Arts; the Horseshoe Casino; the Rock and Roll Hall of Fame; Serpentini Winterhurst Area; Playhouse Square; and the three major Cleveland sports venues.
Hotel & Leisure Advisors looked at several factors in the study, including a demand survey, site analysis, a project market occupancy and the National and Cleveland Lodging Overviews.
Check out the study in detail, attached at right.
“We appreciate the hard work of H&LA in developing such a thorough analysis of the market,” said Dru Siley, the city’s director of planning and development. “I am encouraged that it appears that there might be a good opportunity to expand hospitality options here in Lakewood.”
Since last summer, Lakewood officials have explored whether the city could attract a hotel.
But first, city officials wanted to know if it could work.
In August, city hall’s planning and development department issued a request for proposals that invited “qualified consultants to gather data, analyze and develop a feasibility study to evaluate the community’s potential for further development in the hotel and leisure industry.”
Hotel & Leisure Advisors in its submission noted that it had “performed market analyses of more than 1,000 hotels and resorts in more than 50 states and provinces” since 1987.