03-05-07 Special Called Joint Meeting of the La Porte Development Corporation Board of Directors and the La Porte City Council Minutes

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HOTEL MARKET ANALYSIS IV-? Of those that responded, 58% of the corporations and 50% of the community organizations indicated that they had a need for an upscale, full-service hotel for overnight accommodations. The respondents indicated that 70% of the corporations and 100% of the community organizations had a need for meeting space at an upscale, full-service hotel. The surveys returned by the corporations indicated that 78% were leaving the market area for hotel accommodations and 82% were leaving the market area for meeting space needs. When asked if they would use an upscale, full-service hotel located on Sylvan Beach or the La Porte Bayfront for hotel accommodations and/or meeting space needs, 79% of the corporations and 100% of the community organizations indicated that they definitely would. The results of this survey are a strong indicator that there is a need for an upscale, full-service hotel at the proposed site. Group Demand Based on the results of the survey, there appears to be a strong corporate demand for group meeting space that is currently leaving the market. To assess the need for quality meeting space in the primary market, we also evaluated existing meeting facilities. While there are meeting rooms of various sizes available at local restaurants and clubs, the only designated meeting facilities in the market area are the Pasadena Convention Center and the Sylvan Beach Pavilion. The Pasadena Convention Center and Municipal Fairgrounds facilities are described in the following table. Pasadena Convention Center & Municipal Fairgrounds Description of Facilities '~1lF0JI!I!I!I!!; ~"l ~._"'" h' ;;'1c,:wqua ';~l"'l;F Type of Facility ;~., J:ei ": LIiP Capacity Ballroom/Exhibit Hall 21 ,156 960 to 2,850 Divisible: 4 - 3,321 & 1 - 8,710 Meeting Rooms (2) 783 & 1,616 60 & 164 Rodeo Arena 28,270 4,000 Rodeo Hall with Cement Floor 14,518 800 Livestock Pavilion 30,000 Source: Pasadena Convention Center & Municipal Fairgrounds The Pasadena Convention Center is located on Fairmont Parkway approximately five miles west of the proposed hotel site. The Center has a large ballroom/exhibit hall that can be divided into five sections and two small meeting rooms. The property is also the home of the Pasadena Rodeo and Strawberry Festival. The rodeo arena is an open-air arena with a dirt floor and the rodeo hall is a metal building with a cement floor.