And right behind Tharaldson is Lake Tahoe developer Tahoe Hospitality, which is just about to receive the necessary permits to build two 120-key hotels. Tahoe Hospitality will likely build one and according to sources in the area, have another contractor complete the other. The hotels are slated to be built on a 10.2-acre site at Willard Drive and Iron Point Road. There will also be enough room left on the remaining three acres to build offices or a business park.
One of the planned hotels is a Holiday Inn Express and the other is said to be a limited service hotel that will not include an on-site restaurant.
According to market research conducted by Marcus & Millichap, the projects are necessary since there are currently only three hotels in the area. The planned projects would more than double the area's hotel capacity.
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