Restoration of the hotel and historic Public Market Building was handled by developer David Taylor. The two-year project is just another feather in the cap of the city's revitalization efforts of the downtown area.
"Sacramento has a strong market place and everyone is aggressively moving forward with development and expansion projects," Aaron Frederick manager of Research Services, Marcus & Millichap told Globest.com "Downtown has a strong business market with more than 100,000 employees in the epicenter and so there is a definite need to meet that business growth."
Indeed, hotel officials say they have already booked more than 100,000 room nights through 2006. As well, according to the Sacramento Visitor's Bureau the city boasts more than 10.5 million tourists a year and has the fastest growth population. In the last decade the city has seen a 19% population growth and the city's 2000 hotel occupancy rate is also growing and reached 69% up more than 5% from 1999.
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