The hotel project will service the increasing demand of Bozeman Yellowstone International Airport (BZN), one of the fastest-growing airports in the country
BELGRADE, MT — March 4, 2019 — ERES Capital, the full-service investment and development division of Energy Real Estate Solutions (ERES), has announced the development of a new hotel project in Belgrade, Montana. Located in the forthcoming Yellowstone Airport Plaza, a mixed-use master-planned development which broke ground in June 2019, the new hotel will serve the ever-growing demand of Bozeman Yellowstone International Airport (BZN).
An anticipated construction start of Summer 2020, the new hotel will feature 65,000 square feet, four stories and approximately 120 keys. Due to an ideal location adjacent to BZN the hotel will not only serve busy airport traffic, which has increased 100%+ since 2009, but also Belgrade, Bozeman, three National Parks and the rapidly expanding Big Sky Resort areas. BZN is not only the “gateway” to Yellowstone National Park, but travelers also utilize the airport to access Glacier National Park and Grand Teton National Park, which collectively serve over 10 million annual visitors.
Montana’s busiest airport, and one of the fastest growing in the country, BZN has had a record-breaking decade with several development projects including a terminal expansion and a parking garage that is the largest in Montana. Overall the airport has gone from serving approximately 680,000 passengers in 2009 to over 1.5 million passengers in 2019. Furthermore, in 2015, to better serve the influx of traffic the airport has seen, Gallatin County, the city of Belgrade, and BZN worked together on the I-90 Interchange Project which created a new exit and built two underpasses, roundabouts, and sidewalks.
This increased traffic also spurred the development of Yellowstone Airport Plaza, the anticipated new commercial hub for Belgrade, Bozeman and BZN visitors. At 53-acres the mixed-use complex is the largest development in the area and will feature ERES Capital’s new hotel project.
“We are very excited about the incredible location of this hotel project, being less than a mile from one of the fastest-growing airports in the country and located in the only commercial development in the area,” said ERES Capital CEO Mike Elliott. “Typically, you will see 20-30 hotels around an airport of this size and while supply has grown in the downtown Bozeman area, virtually no hotels have been built in the Belgrade or airport area for over 7 years making this an incredible opportunity.”
ERES Capital will be announcing the hotel brand, as well as the hotel’s management partner in 2Q 2020.
ABOUT ERES CAPITAL
ERES Capital, the investment and development division of Energy Real Estate Solutions (ERES), is a full-service investment platform catering to both domestic and international markets. Headquartered in New York City, the group has a strong focus on opportunistic secondary and tertiary markets and typically seeks unique, off-market opportunities across hospitality, healthcare, industrial and education verticals that can earn above average returns for investors. For more information, visit www.EREScapital.com.
Energy Real Estate Solutions (ERES) is a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios. ERES provides brokerage, investment, development, project management, property and asset management, workforce housing, and consulting services in and around the world’s most active energy and opportunistic markets. The firm currently operates out of seven offices located in Denver, CO (Headquarters), Fort Worth, TX, Houston, TX, Midland, TX, New York, NY, Williston, ND, and Neuquén, Argentina. For more information, visit www.energyreco.com.
CEO, ERES Capital
+1 701 713 6606