Sacramento’s “once-struggling hotel market is on a comeback,” thanks in part to a partnership involving the NBA Kings that is “expected to start construction” of a $200M-plus high-rise hotel in March or April adjacent to the team's new downtown arena, according to a front-page piece by Tony Bizjak of the SACRAMENTO BEE. Kings officials said that they “want to start construction now so they can open the hotel simultaneously with the new arena” in fall ‘16. Bizjack notes the timing “seems fortuitous for the Kings,” as data shows Sacramento hotel occupancy and room rates are “on the rise after several bleak years during the recent recession.” Kings President Chris Granger said that his group’s analysis “shows the market is ready for a new downtown hotel, especially one connected with an arena and a surrounding entertainment district that will bring in more people from out of town.” Granger: “We think there is a need for more hotel rooms. Sacramento also needs to increase its capacity at the high end to secure bigger sports events and conventions.” The Kings and their partners, including S.F.-based luxury developer JMA Ventures, said that they “want to build a hotel with high-end services and amenities.” Bizjak notes the parties “have not yet disclosed whether they’ve signed with a specific hotel company.” But Granger said, “Sacramento is in need of four-star hotels” (SACRAMENTO BEE, 2/3).
