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HOUSTON-Northbrook, IL-based Diamond Group, Atlanta-headquartered Dellisart Lodging and local developer Apollo Property Partners have broken ground on a 122-room Staybridge Suites by Holiday Inn in the Energy Corridor. The 77,000-sf, three-story hotel, which will cost about $10 million, is scheduled to open in spring 2005.

The hotel, rising at 1215 Eldridge Parkway, will be the second Staybridge Suites in the Greater Houston area; the other one is in the Galleria area. Dellisart Lodging Hospitality Management, a division of Dellisart Lodging, will manage the new development.

“This is the first time for all three partners to work together and the first hotel for us to develop in Houston,” says Douglas E. Artusio, Dellisart founder, president and CEO. He adds the partnership is looking for more opportunities in the Greater Houston area. “We would hope to build two to three additional properties over the next three years,” he says.

Artusio tells GlobeSt.com that Staybridge Suites will be the only extended-stay hotel in the Energy Corridor and the only one in Enclave Business Park, which is home to some of the largest multi-national energy companies. “The Houston Energy Corridor market is under-served in the extended-stay hotel segment, which targets guests who stay for an average of five-plus nights,” Artusio says. “The energy companies tend to have a great deal of training and a lot of international visitors so we are filling a segment of the hotel business.”

According to Artusio, Staybridge Suites, part of the UK-headquartered InterContinental Hotels Group, is the fastest growing extended-stay brand in the US. Staybridge Suites feature all-suite rooms with high-speed Internet access and 24-hour business centers.

The Energy Corridor hotel’s rooms will cost from $90 to $125 per night. Artusio expects the hotel will ramp up to full capacity within the first 14 months, significantly faster than the average of years. “It’s the strength of the market and product,” he says.

The hotel will sit on 3.5 acres purchased about a year ago from Parkway Investments. The partnership was represented by Stan Creech Properties Inc. The project team consists of the Houston architectural firm of Mitchell Carlson Stone Inc. and Lyda/Swinterton Builders of San Antonio.

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