Sycan B acquiring Gateway area hotel.
Byline: Joe Harwood The Register-GuardSPRINGFIELD - Hotel developer Sycan B Corp. will increase its already considerable share of the area's lodging market by adding the DoubleTree Hotel in the Gateway district to its stable.
Sycan President Richard Boyles said he is in the process of buying the 234-room DoubleTree, at 3280 Gateway Road. Boyles plans to discard the DoubleTree brand when the purchase is complete early next month and convert the hotel to a Clarion, one of Choice Hotels International's top franchise brands.
The hotel includes a 12,000-square-foot meeting and banquet space that can accommodate up to 1,400 guests. Boyles said he is buying the property from Boykin, a Cleveland-based Real Estate Investment Trust. He declined to disclose the purchase price.
Boyles has developed three hotels in the Gateway area - the Courtyard by Marriot, the Holiday Inn Express and the Comfort Suites - and one in Eugene, the Residence Inn by Marriot. He also has developed a hotel in Central Point and is building a 102-room hotel in Hillsboro and a 140-room hotel in Medford.
Boyles said he pursued the DoubleTree acquisition because he is familiar with Gateway and believes that "there is still a lot of opportunity" there.
"In terms of lodging, it is the most convenient hotel and tourist destination to get to if you are driving, and also from the (Eugene) airport," he said. Also, the 12,000-square-foot meeting space gives Boyles a piece of the market for large groups and conventions from across the region. Boyles' other local hotels don't have space for big meetings.
Boyles said he expects demand for hotel rooms and meeting space to rise as the Gateway campus industrial area is built out, and as PeaceHealth builds its new hospital east of Gateway.
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| Title Annotation: | Business |
|---|---|
| Publication: | The Register-Guard (Eugene, OR) |
| Date: | Jun 27, 2003 |
| Words: | 292 |
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