City approves hotel market study for historic downtown

MADISON – The Madison City Council approved a hotel market feasibility study for the downtown area last week.

Core Distribution Group, LLC will be conducting the study on 2.3 acres in historic downtown. The city is splitting the cost of the study with the property owner, Stewart Properties, Ltd. It will cost the city $8,570.

“There will be data that is generated as part of the first phase of this study that will have benefit to the entire downtown,” said Madison’s city planner Mary Beth Broeren at the Aug. 18 city council meeting.

According to Core Distribution Group, LLC, a new hotel could potentially have a $15 million impact in Madison. The study is expected to take two months to complete and start in early Sept.