May 30– May 30–MANCHESTER — A groundbreaking ceremony was held Thursday for an approximately $25 million downtown hotel across from the SNHU Arena.
Work is underway at the Residence Inn by Marriott at 40 Lake Ave., which is expected to employ 50 when completed in spring 2020.
"As with any construction project, this project represents countless hours of work and collaboration," Anthony Librot, an executive with the hotel's owner, AAM 15 Management LLC, said Thursday. "When we at AAM decided to pursue a hotel at this site, we wanted to make sure that it both looked and felt like a part of the city."
The four-story hotel will feature 123 guests rooms, salt water pool, fitness center and an outdoor patio with a fire pit, grill and al fresco seating.
"It's such a pleasure to be here standing on this site, formerly a parking lot, and seeing the vision that we have a Marriott coming," said Manchester Mayor Joyce Craig. "It's such an amazing time for Manchester. It's really great to see companies coming into Manchester, investing in our community. I believe they're seeing how vibrant it is and how welcoming our city is and they want to be here. It's just really exciting to see this development."
"We believe that its accessible downtown location will attract business and leisure travelers to stay in the area and patronize the local retail, dining and entertainment venues," David Masse, owner and CEO of AAM 15 Management in Burlington, Mass., said in a statement.
AAM 15, which has developed other hospitality projects in Massachusetts, Vermont, Maine, and Virginia, counts the Manchester project as its first New Hampshire hotel.
The Residence Inn is the second hotel project begun in Manchester in recent months.
A Tru by Hilton project broke ground in the Millyard in February. That 125-room hotel with a parking garage will be built near North Commercial and Spring streets. The development also is expected to feature a retail component on the ground floor. The hotel, estimated to cost around $27 million, should be ready to open in June 2020.
Matt LaBarre, area vice president of lodging development for the Northeast at Marriott International, said his company is excited to bring an extended-stay option to the Queen City.
'We did extensive feasibility studies over the past five years," said LaBarre, who grew up in Amherst and now calls Dover home. "We've always had a desire to an extended stay concept in downtown Manchester. We've seen the growth of the area, and feel there is unaccommodated demand here in terms of the extended stay options."
Both hotel projects were expected to have opened by now. The Residence Inn got a new developer while the Millyard project ran into other delays.
LaBarre believes there is enough demand for rooms to support both hotels. Tru is known for featuring smaller, more efficient rooms, while Residence Inn by Marriott features larger suites with a guest room and full kitchen.
"Absolutely, we feel the market is large enough to sustain the new hotels," said LaBarre. "Generally when there is new product there's the ability to drive average rate. It's great for the hotels to kind of come online at the same time and drive new customers. I think it will help spur additional growth on the retail and commercial front as well. In Manchester there's opportunity, and we think the hotel will be a launching pad to help grow the area, especially this part of downtown."
