15D: Regional Accommodation Strategy
Conduct a regional accommodation strategy that explores available and projected supply and demand, product mix, trends, and submarket needs. This study should incorporate alternative accommodation models, including short-term rentals, as well as their impact on housing affordability and neighborhood sentiment.
Value to the Community
Ensuring we have the right mix of lodging in the right places is fundamental to maintaining our competitive edge in the visitor industry. With the growing preference to experience authentic local places, lodging options have popped up in very non-traditional places like neighborhoods. This can stabilize housing values and vacancies, add population to support local businesses, and add a sense of vibrancy to neighborhoods, but it can also lead to rising property values, displacement concerns, and tensions between visitors and residents. Understanding the complete accommodations picture is the first step in seeing where such concerns may exist.Value to the Hospitality Industry
Ensuring we have the right mix of lodging in the right places is fundamental to maintaining our competitive edge in the visitor industry. Such mix is also critical in driving new business to the city, as some accommodation types help us increase demand while others simply cannibalize existing demand, all with implications on the public finance models we rely on to host visitors.Updates
None AvailableKey Partners
Confirmed Partners
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Visit Indy (Lead)
- Partnerships Under Development
Recommended Partners
Priority + Progress
Standby priorities are the bottom 20% or so of actions that TTI is keeping its eye on and may need to reevaluate in the near future.
TTI Role
The primary role means TTI is taking a significant leadership role in this action. This is the most-involved type of role and typically applicable when Visit Indy is leading or significantly contributing to an action implementation.
Impact on Guiding Principles
