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 CommunityEnsuring 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 IndustryEnsuring 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.
Visit Indy (Lead)
- Partnerships Under Development