Spencer, IA (Northwestiowanow.com) — The hotel feasibility study for the city of Spencer has been completed.
Sara McKay with the Core Distinction Group says 94 percent of the business owners who were questioned believe there’s a need.
The city council would love a hotel to anchor the North Y development. McKay tells KICD News that appears to be an attractive location, but there are others.
Results of the survey are available to ANY interested developer, not just the one who requested it.
Core Distinction Group estimates a new hotel would generate over 12.5 million dollars in economic activity within the first five years; 731 thousand dollars in lodging tax revenue; and 638 thousand dollars in sales tax revenue.
