Minneapolis Looks at New Hotel, Event Possibilities
A new task force in Minneapolis will look at the city's hotel market and its ability to attract additional convention and event business to the area.
Leaders from the Meet Minneapolis, Convention and Visitors Association announced Wednesday the creation of the new task force, which will be led by Rob Moor, vice chair of the Meet Minnesota board. Moor also is the CEO of the Minnesota Timberwolves and Lynx.
“This is an important next step for us,” said Meet Minneapolis Board Chair Peter Mihajlov. “We know that we aren’t currently competitive in terms of attracting the largest events, the ones that require 3,000 or more hotel rooms at peak. We’ve asked the task force to ‘fill in the blanks’ by first determining where our best opportunities are for growth."
The group will be assembled from Meet Minnesota board members.
Goals of the task force include:
- Recommending an action plan to use the city's currently hotel assets
- Define the convention target market segment for the future
- Determine strategies needed to gain a competitive edge to attract businesses
The group also released results of a study that focuses on the need for a 1,000-room hotel close to the Minneapolis Convention Center. The results include:
- Hotel development in downtown is likely over the next several years
- The city would benefit from building a 1,000-room hotel to attract conventions
- A 1,000-room hotel would negatively impact current hotels short term, but positively in the long term as new conventions are attracted to the area
- A 1,000-room hotel would cost an estimated $304.5 million, take up to 30 months to construct and require the public's participation
A complete report of the Meet Minnesota study is available.