Analysis of Proposed Hotel and Conference Center in Downtown Fredrick, MD
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The City of Frederick has joined with PALS and the University of Maryland Smith School of Business to assess a proposed hotel and conference center planned for downtown Frederick. They are particularly interested in assessing the demand for the meeting space planned, and better understanding the likely economic impacts of businesses and nonprofit organizations making use of the conference center. An analysis of the trade show and events industry was conducted to provide additional background as the City and its private partners continue to develop their plans and goals for the project. Two conference centers in similar cities were analyzed to assess likely economic impacts and best practices for marketing strategies. Finally, the regional competitive landscape for conferences and private event venues was analyzed, and opportunities for business development were identified.