Two items from my In Box are positive indicators for the City’s economic direction.
An article in the most recent St. Louis Business Journal noted that St. Louis hotels exceeded the average occupancy, average daily rate and revenue per available room among the nation’s 25 largest markets last quarter — better than Boston, Atlanta, Chicago, and Los Angeles. The good news was powered by the month of July, in which St. Louis showed the highest occupancy increase among the nation’s large hotel markets.
Equally encouraging was yesterday’s announcement that Bob O’Loughlin’s Lodging Hospitality Management now owns the former Marriot Pavilion Hotel downtown. After some extensive (and expensive) bodywork, the hotel will become a big Hilton early next year. A related project will move Mike Shannon’s restaurant across Market Street.