July 16, 2014

New Hazen hotel plans underway

By Lee Coleman

The search for a new hotel to call Hazen home has taken a turn in the right direction.
Working in conjunction with Buster Langowski and Hazen Community Development, representatives of GrandStay Hotel and Suites were in town last Thursday to speak with potential investors and present an overview of a new, modern hotel facility that will provide services for local residents and business clients.
A market study, commissioned by the city of Hazen, concluded the city has lodging demands that will support a 60-unit, mid-scale hotel.
According to the study, which was updated in 2014, a 60-unit hotel with a cost of $7.5 million would be economically viable in the area.
Jerry Buseman, president of Turner Properties, which will develop the hotel, was in town with Jon Kennedy from GrandStay to discuss the proposal and answer questions about the plan.
With a price tag of $7.5 million, guests at the meeting last week were informed $2.5 million will be required aFurther, investment can be made in units of $25,000 and returns are estimated to be 20 percent over five years.
The hotel will be built on about 1.83 acres of land owned by the city located on the south side of Main Street near the west boundary of the city of Hazen.


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