Market Projections

We offer this basis for projections.

The City has conservatively estimated an occupancy rate for the established operation of 55%. This is 8% below the average occupancy rate of the St. Clairsville interstate area hotels. The City also assumes a very conservative first year rate of $110 per night which is slightly higher than the current rate the Hampton Inn and the Fairfield Inn.

Remember, however, that the Clarendon is thought to be the higher end of the spectrum in terms of the type of product, and its rehabilitation costs have been calculated as such, hence this rate is conservative.

The average boutique hotel rate nationally far exceeds $110. The Professional Association of Innkeepers International lists the national average rate in 2002, for a boutique hotel at $133. Belmont County's average rate grew 16.2% from 1998 to 2004, whereas nationally the average rate grew only 1% annually.