New 120-key IHG Hotels & Resorts hotel will service the increasing demand of Bozeman Yellowstone International Airport (BZN), one of the fastest-growing airports in the country
ERES Capital, LLC, the full-service investment and development division of ERES Companies, has announced the groundbreaking on a new EVEN Hotels property in Belgrade, Montana. Located adjacent to Bozeman Yellowstone International Airport (BZN) in the Yellowstone Airport Plaza, a new mixed-use, master-planned development, the IHG Hotels & Resorts (IHG) branded hotel will serve the ever-growing demand of the airport and the broader Gallatin Valley.
Leading the development project, ERES Capital has brought on O’Reilly Hospitality Management, LLC to partner and manage the EVEN Hotel. With an estimated completion date of late 2022, the hotel will feature approximately 70,000 square feet across four stories and 120 rooms. Thoughtful onsite amenities include an indoor pool, Cork & Kale restaurant, bar and market, lounge areas, meeting rooms, a best-in-class Athletic Studio, flex activity space, and an outdoor courtyard with fire pits. EVEN Hotels targets the needs of wellness-minded travelers, meeting the growing demand from active individuals who want to affordably maintain their daily routine while on the road.
The hotel will not only serve busy BZN traffic, but also that of Belgrade, the city of Bozeman, Bridger Bowl ski area, the rapidly expanding Big Sky Resort areas, and Yellowstone National Park. Like the airport, Yellowstone National Park has also been experiencing exponential growth, and in June of this year the park hit a new monthly record of nearly one million visitors, a 64% increase from June 2020.
“We are thrilled to be partnering with IHG on this incredibly located development, being the first hotel positioned at one of the fastest-growing airports in the country,” said Mike Elliott, CEO, ERES Capital. “Typically, you will see over 10 hotels around an airport this size and, while supply has grown in the downtown Bozeman area, virtually no hotels have been built in the Belgrade or airport area for at least a decade, marking this as an incredible investment opportunity.”
Tim O’Reilly, CEO, O’Reilly Hospitality Management, adds, “We are so excited to join forces with ERES Capital in the development and management of what will be one of the nicest hotels in Bozeman. We believe this growing market will provide an energized platform for the success of this unique and upscale hotel brand.”
Julienne Smith, Senior Vice President, IHG Development, commented, “We are excited to partner with ERES Capital on their first EVEN Hotel property and the first in Montana. With convenient proximity to downtown Bozeman and Yellowstone National Park, wellness minded travelers now will have a hotel option that caters to their individual lifestyles and desire for an upscale accommodation.”
Montana’s busiest airport, BZN has had a record-breaking decade with several development projects including a terminal expansion and a parking garage that is the largest in the state. The airport has gone from serving approximately 680,000 passengers in 2009 to over 1.57 million passengers in 2019. BZN is currently on track to exceed this high, with the airport authority estimating that July 2021 will see an increase in passenger numbers of 135% to 140% versus July 2019.
In 2015, to better serve this influx of airport traffic, Gallatin County, the city of Belgrade, and BZN worked together on the I-90 Interchange Project which created a new exit and built two underpasses, roundabouts, and sidewalks. The increased traffic also spurred the development of Yellowstone Airport Plaza, the anticipated new commercial hub for Belgrade, Bozeman and BZN visitors. At 53-acres the mixed-use complex is one of the largest developments in the area and will feature the new EVEN Hotel.
For additional information on the hotel development, contact Mike Elliott at + 1 406.599.0466 or firstname.lastname@example.org. For more information on ERES Capital, LLC, visit http://www.EREScapital.com.
ABOUT ERES CAPITAL, LLC
ERES Capital, LLC, a division of ERES Companies (ERES), is a full-service real estate investment and development platform operating in both domestic and international markets. Co-Headquartered in Denver, CO, New York, NY and Sarasota, FL, the group possesses a strong focus on fast-growing secondary and tertiary geographies and typically seeks unique, off-market opportunities across hospitality, multifamily, industrial and education verticals that can earn above average returns for investors. For more information, visit http://www.EREScapital.com.
ABOUT IHG HOTELS & RESORTS
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ABOUT O’REILLY HOSPITALITY MANAGEMENT, LLC
Founded in 2007 by Tim O’Reilly, O’Reilly Hospitality Management, LLC is a proven hospitality firm specializing in the design, development, and staffing of hotels, restaurants, and commercial properties for some of the leading national and independent brands across the nation. Founded on the principles of sustainability, community involvement, philanthropic outreach, and a commitment to elevating the modern guest experience, O’Reilly Hospitality Management, LLC is truly an innovative presence in the hospitality space. Our hotel management company in Springfield, Missouri, brings a wealth of knowledge and forward-thinking initiatives to 35 existing sites and continuous development of new properties across the states. We do whatever it takes to make every guest smile, thanks to award-winning service, sustainable green practices, and a staff buoyed by working for a caring and involved company. For more information, please visit http://www.ohospitalitymanagement.com.
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