Originally Posted by
mikeg19
The thing I'm wondering is what exactly warrants another hotel in downtown? From many comments on this board, it would leave you to believe that the Detroit hotel market is saturated enough for the time being. What projections are investors looking at to think it's feasible to add more hotel rooms to downtown when in the past few years we've added over a thousand? It seems like more moderate income apartments would be in demand with the thousands of people being brought into downtown from BCBS, Gilbert, etc. Obviously not all of those people will move into downtown as many probably own homes in the suburbs, but more affordable renting options or condos in the CBD seems like a better investment than another hotel. Would someone with more knowledge on this chime in?