TownePlace Suites by Marriot - Joplin , Missouri

Executive Summary

This 4- story hotel represents the mid-scale extended stay model by Marriott,  one of the most sought after flags in the industry.  Opened in 2005, the TownePlace Suites goes above and beyond its mid-scale competitors, such as Candlewood, with regards to amenities, as it features an indoor pool, expanded lobby, continental breakfast and a meeting room.   

The face of Joplin, MO was forever changed on May 22, 2011 by the historic and tragic EF-5 tornado that struck the city.  The TownePlace Suites is located south of the storm’s destructive path and suffered little damage.  As a location, the hotel is very well positioned on the southwest quadrant of I-44 and S. Range Line Rd, which is the major commercial corridor in Joplin.  I-44 is a very busy interstate, connecting Oklahoma City to St. Louis and is the primary route for NE and SW bound transient and freight traffic out of and to Texas.  Like almost every market in the Midwest prior to the tornado, Joplin experienced the affects of the recession.  However, as everyone knows, May 22 has changed everything with over 800 structures severely damaged or destroyed.  The damage estimates range from 2 to 3 billion dollars and if you tour the area, it looks to be more than that.  The result of this massive and historic destruction has been an unprecedented re-building effort with a major influx of the various support industries, such as insurance, construction, infrastructure and the suppliers.  Currently, the hospitality market is serving a vital role in the re-building effort as a source of housing for all of these folks.  With the amount of investment yet to be made in Joplin, the local market should remain strong for years to come.

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