A second hotel is planned for Altamonte Springs by a Tennessee hotel builder and manager that is focusing much of its growth on Florida.
The TownePlace Suites, a roughly $10 million project, will replace an 86-room Quality Inn that has stood on the 2.4-acre location for more than 30 years.
The six-story Quality Inn, which 3H operated before closing on April 1, is expected to be demolished within a week or so and replaced by the construction of the five-story Townplace Suites, with general contractor bidding planned within the next couple of weeks, 3H Group's project representative Nikhil Desai told GrowthSpotter.
Altamonte Springs City Manager Franklin Martz likes the approach.
"Urban infill redevelopment is a great thing and out city supports that," Martz said.
Construction is planned to be underway by summer and expected to last about a year.
The project will be self funded by 3H Group, Desai said. "There is no private equity involved."
Both hotels are located in the heart of Altamonte Springs' central business district, and are among the nine hotels 3H Group has either built or is building in Florida. Other areas include Miami, Jacksonville and Clearwater, but the Altamonte Springs hotels are the company's only in Central Florida.
That could change in the future, including through acquisitions, Desai indicated.
"We plan to continue developing aggressively in Florida," he said. "It has a good combination of corporate and leisure (demand)."