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Market Intelligence Report: Asheville, North Carolina - page 5 / 7





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HVS Global Hospitality Services

Market Intelligence Report: Asheville, North Carolina 4

Asheville, which opened in January of 2008, is a gateway to downtown venues, the Asheville Mall, and other popular retail outlets. The new concierge tower at the DoubleTree Biltmore boasts 37 guestrooms and additional meeting space to accommodate the hotel’s demand.

The Hotel Pipeline

The current hotel pipeline reflects continued focus on the high end of the lodging market.

The 104-room boutique Bohemian Hotel Biltmore Village is scheduled to open in April of 2009. This luxury hotel, part of the Kessler Collection, will offer amenities such as an art gallery, spa and fitness center, and 5,100 square feet of meeting space. The 165-room Hilton Asheville Biltmore Park is currently under construction in the Biltmore Park Town Square mixed-use development just south of Asheville. Scheduled to open in July of 2009, the property will feature a solar water-heating system as part of its efforts to achieve LEED certification. Construction started in the summer of 2008 on the Hotel Indigo Asheville, which will occupy the former site of the Asheville Area Chamber of Commerce, Downtown. The 100-room hotel, which will also feature twelve luxury condominiums, is scheduled to open in October of 2009. The 165-room Hilton Asheville, featuring the Sparrow Spa, is set to open in Biltmore Park Town Square in August of 2009.

The Ellington is an ambitious hotel and condominium project proposed for Downtown Asheville. The 23-story building would comprise 125 oversized guestrooms and 52 condominiums, including four penthouse suites. The project had initially come under fire from local residents who feared the building’s size and site would run afoul of traffic flow and pedestrian safety. Having since received favor from the Asheville City Council, the project is in the design- development phase, although construction is on hold pending financing. Plans for the hotel include alternative-fuel guest shuttles, a laundry recycling system, and even an exterior lighting design that respects the flight patterns of certain migratory birds. The Ellington is projected to attain LEED certification, an achievement shared by only a handful of North Carolina hotels. Representatives of the project expect the hotel to open in late 2011 or early 2012.

The Ellington has also inspired a cooperative spirit in the Asheville community. The Grove Park Inn, a partner in the hotel’s development, will give guests full access to all of the Grove Park’s amenities. Furthermore, the developers have created a fund for the construction of affordable housing within one-half mile of the Central Business District; a percentage of each condominium sale at The

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