Feasibility Study: Hotel Development Opportunity in Mineola, Texas

The City Manager of Mineola recently contacted Source Strategies to look into the feasibility of building a limited service hotel in the northeast Texas community. Source Strategies, Inc. authors more than 100 financial feasibility studies for hotels every year, with banks and developers depending on them to assess the value of a potential project.

Four potential locations in the city were
examined for a hotel project that will be a needed addition to the current lodging stock in the immediate area, offering a product that is under-represented not only in Mineola, but in the wider market area.

Mineola is a city in Wood County, Texas in the northeastern part of the state at the junction of US Highways 69 and 80. It is eighty miles east of Dallas. It is a National Main Street City and Wide Open Country listed Mineola in its 10 Beautiful Historic Downtown Districts in Texas.

Mineola, the “Birding Capital of East Texas”, has numerous recreational activities including the Mineola Nature Preserve, Main Street Farmer’s Market, the Historic Select Theater, the historic Transportation Plaza, the Mineola Historical Museum, Mineola Country Club and Golf Course, Lake Fork – the “Bass Capital of Texas”, Lake Holbrook, and plenty more.

Source Strategies President Todd Walker authored the study and notes that “a well-run hotel has the potential to thrive in this market due to the area’s positive economic indicators, the many attractions in the area and the fact that nearly 40% of area lodging competition is more than 20 years old.”

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 area has experienced steady growth over the past ten years and this is poised to continue in the coming years.

Take a look at the summary of the Mineola Hotel Feasibility Study to see for yourself. Contact Source Strategies if you wish to see the full study or are interested in this opportunity and we can advise you how to proceed.