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Study finds downtown Petersburg could support another hotel; city outlines ongoing downtown improvements and visitor center opening
Summary
A desktop market study presented Oct. 7, 2025 found downtown Petersburg could support an upper‑midscale 90‑room hotel; city staff discussed related downtown improvements and said a visitor information center in the Suicide Depot building is targeted to open Nov. 14.
A market study presented to the Petersburg City Council work session on Oct. 7, 2025 concluded that downtown Petersburg could support an additional hotel — roughly a 90‑room, upper‑midscale or upscale select‑service product — and that a second downtown hotel would serve different demand than the casino’s on‑site lodging, potentially complementing neighborhood redevelopment and group business demand.
Brian David (economic development consultant) introduced a desktop analysis prepared by a hospitality market specialist that used proprietary market data (CoStar) and a regional market set. The consultant concluded a downtown hotel could reach occupancy near 65% based on current and forecast demand drivers, including Virginia State University, Fort Lee, the…
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