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Number of hotels help economy

Reported by: Jessica Albert
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Updated: 9/10/2013 6:00 pm
TUPELO, Miss. (WTVA) — Hotel owner Bruce Patel owns several hotels in our area.

"When I came into Tupelo I noticed that the market was underserved," Fusion Hospitality CEO Bruce Patel said. "A lot of the supply that was existing was dated."

The Director of the Convention and Visitors Bureau says there is a need hotels in the area.

"It helps not only the property value of the businesses surrounding it," Convention and Visitors Bureau Executive Director Neal McCoy said. "It also helps the bottom line for not only us but the city and the hoteliers investing that money."

While many tourists do come to visit Tupelo, these hotels also stay filled with a number of professionals.

"It's everything from just the transient business traveler that's coming here and they're either selling to our local manufacturers or maybe it's people coming here for training with our banks," McCoy said.

With all of this activity, a two percent tax helps save people in Tupelo money each year.

"Tupelo residents would have to pay an additional 600 dollars in taxes if we did not have visitors coming to our city," McCoy said.

McCoy says the hotel growth in this area has been steady over the past ten years.

There have been 12 hotels built since 2000.

One of Patel's hotels on Gloster Street is under construction right now. He says it will be completed in about three to five months.
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