(ALBUQUERQUE, N.M.) – A completed PKF Consulting study found that significant demand for a 550-room Convention Center Headquarters Hotel exists within the full-service Albuquerque hotel market. The study was conducted to determine the potential market demand and estimated operating results for the proposed headquarters hotel to be developed as part of a larger mixed-use project in Downtown Albuquerque.

The study found that the completed development of the hotel, a 12,000 seat multi-purpose Event Center, an entertainment, restaurant and retail zone, and leased restaurant and retail space at the base of the hotel would create strong demand in the market and would significantly position Downtown Albuquerque to compete as a regional and national convention destination. The proposed hotel is expected to induce increased room night demand for full-service hotels into Albuquerque’s city-wide competitive hotel market.

The study found that the proposed project site is ideal, given the accessibility from Albuquerque’s two major freeways, proximity to the Rail Runner tracks, Alvarado Train Station and the Albuquerque Convention Center, proximity to the Albuquerque International Sunport, and proximity to existing and proposed area businesses and leisure amenities.

PKF Consulting researched socioeconomic trends that could potentially affect the future operations of the hotel, including but not limited to: population growth, employment rates, largest employers, airlift, tourist visitation, area attractions, and future developments. The methodology included interviews with General Managers of the competitive hotels in Albuquerque, the Director of the Albuquerque Convention and Visitor’s Bureau, the General Manager of the Albuquerque Convention Center, individuals familiar with the tourism industry, a database of information from thousands of competitive hotels, and all available data concerning the Albuquerque hotel industry. PKF Consulting also specifically examined ten newly-built convention center headquarters hotels built in similar markets and their impact on the economy and competitive market upon opening. These reports were coupled with lost business reports supplied by the Visit Albuquerque.

An informational website has been launched to provide ongoing coverage of all components of the proposed project, and can be accessed through www.ABQFuture.com.

*For more information, please contact Annemarie Ciepiela Henton at (505) 266-7220, Tania Armenta at (505) 362-3684, or visit the website at www.ABQFuture.com.

* PKF Consulting: PKF Consulting is a leading Hospitality Industry researcher headquartered in San Francisco, California contracted as part of the City of Albuquerque’s viability assessment to provide objective and extensive research for the proposed Downtown Event Center and Hotel Complex Project.