The Sabine County Economic Development Agency recently reached out to Source Strategies to find out if a Sabine County hotel project would be economically viable in this East Texas community. Source Strategies, Inc. authors more than 100 financial feasibility studies for hotels every year and banks and developers rely on they to assess the value of a potential project.
This recently-completed study looked at several locations in the area and determined that a hotel project in the city of Hemphill, Texas, would be the best choice. Hemphill is surrounded by the Sabine National Forest and the popular Toledo Bend Reservoir. This 185,000 acre lake is the largest man-made body of water in Texas and is a destination for swimming, boating, picnicking, fishing, camping, hunting, and sightseeing. The reservoir is a popular location for freshwater fishing with many clubs hosting tournaments.
Source Strategies President Todd Walker authored the study and notes that “This is a solid opportunity for an area that currently lacks quality lodging.”
With any Feasibility Study, Source Strategies looks at a variety of factors about the specific project, the wider surrounding market and overall market conditions. The East Texas area is poised for growth in the coming years. Without any branded hotel within approximately 40 miles of Hemphill, the area is ripe to pick up the regional demand and destination travelers to the area’s recreational attractions.