New 152-Room Hyatt Hotel Announced for Downtown Boise
Business travelers and visitors to Boise will soon have a new, upscale select service option for lodging in Boise’s bustling downtown district.
PEG Development will break ground in November on a 152-room Hyatt Place hotel to be located at 1024 W. Bannock St. The hotel will face south on Bannock Street between 10th street and 11th street. Construction will last approximately 13 months, a contractor has been selected and a contract is currently being negotiated. The Hyatt Place hotel will consist of 152 beautifully appointed rooms, a spacious fitness room with the latest in exercise equipment, a relaxing pool and spa, the free A.M. Skillet every morning and options for lunch and dinner, including a full bar. Meeting space will also be included in the project.
The Hyatt Place hotel will be in Boise’s core, between Boise Plaza and the Banner Bank Building. It will be only two blocks from the Idaho State Capitol and restaurants on 8th Street.
“We realize that there have been other hotels announced in downtown Boise,” said Cameron Gunter, Peg’s CEO. “We believe the combination of a great location, a wonderful brand, and a relatively low-cost structure places us in a strong competitive position.”
PEG Development and Rafanelli & Nahas are the principal partners on the project. Funding is in place for the project, including raised capital and debt. All Design Review approvals for the project have been completed with the city.
Boise has experienced tremendous growth in recent years, and the Manpower Group named it the fastest-growing metropolitan area for employment for 2015. Despite that growth, lodging in the area has not kept pace and the Hyatt Place hotel will be the first newly built hotel in downtown Boise in nine years.
“The Hyatt Place will be a great addition to downtown Boise,” said Robert Schmidt, Vice-president of Hospitality for PEG Development. “Hyatt Place will provide a modern and appealing lodging accommodation.”
The hotel will bring the Hyatt Place brand’s intuitive design, casual atmosphere, and practical amenities, such as free Wi-Fi and 24-hour food offerings, to the Boise area.
“We are thrilled to continue building upon a strong relationship with PEG Development, and to join forces on this exciting development in Boise,” said Mark Younadam, director of real estate and development for Hyatt. “This hotel will bring a new and dynamic guest experience to the marketplace and is a great example of our continued focus on growing premium hotels that will service corporate, group and leisure travelers alike.”
The Hyatt Place brand consistently sets itself apart with a combination of style, innovations and around-the-clock convenience to create a seamless stay with every modern comfort.