The development group behind the upcoming Holiday Inn Express and Suites joined with city staff members, elected officials and MDD members, as well as members of the Pilot Point Chamber of Commerce on Tuesday.
The group celebrated the groundbreaking of the hotel project that has been in process for more than five years.
'It's been a long time coming for MDD,” Municipal Development District Glen Ray said. '... I think it's what the community needs. It's a very necessary component that we've been missing for years, for events, for families. Anything that we have in town, there's been a lack of hotel space.'
The process was begun under former Mayor Shea Dane-Patterson before City Manager Britt Lusk came to Pilot Point in April 2020, and the build-out is still projected to take at least another 12 to 18 months to complete.
The Lone Star Lodge and Marina is not in the city's jurisdiction, but instead in Denton's extraterritorial jurisdiction.
The only other large-scale option for accommodations is the Four Horsemen Travel Lodge.
'This is going to be a necessity for the lake traffic, tourism traffic, wedding traffic, for venues that are in the area,' Ray said. '... I'm excited. I think it's what the economic development board is about. I think this is the second major land since EDC came into play. Western Son was the first bigger development that we were part of.'
The Pilot Point MDD had the option of participating in the project because it will help generate sales tax revenue from the visitors who stay in town.
The hotel will also generate hotel occupancy tax dollars which can be reinvested into specific projects that drive tourism to town.
Mayor Chad Major said he heard from many community members that they want more options where family and friends could stay.
'As I learned on the campaign trail, there are people that have family that come in town that they don't want staying at their house, so there's a lot of elements that this would serve,' Major said. '... This kind of development also begats other potential [development].'
G.K. Reddy of Reddy Hotels & Management Group spoke to the crowd about his excitement for the project to start growing out of the ground.
'Good things are going to be happening soon,' he said. 'Every dollar they spend on a hotel, they spend $4 in the city, so this is going to be a good thing for Pilot Point.'
Arvind Reddy also shared his thoughts about the project.
'Thank you all for joining us today on this exciting day,' he said, adding thanks to the city, MDD and project investors for working together to help the hotel move forward.
Major then shared his official remarks.
'We celebrate not just the groundbreaking of a new Holiday Inn and Suites, but the culmination of determination, collaboration and community spirit,' he said. 'I know this project has taken longer than anyone hoped. There were hurdles, delays and moments of frustration, but the fact that we stand here today, shovel in hand, or at least down at our knees, is proof of what Pilot Point does best. We persevere.'
He spoke, too, of the economic impact the facility will have in the shape of new jobs created.
'Today we turn the page from patience to progress,' Major said.
Ray then shared his perspective.
'Today's groundbreaking marks more than the start of construction on this project; it's the start of a new chapter in Pilot Point's economic future,' he said. 'Yes, it's tested our patience over the years. Development isn't fast or always a straight road.'
He touched on the value of partnerships and of having intentional growth.
'Holiday Inn Express and Suites will not only serve as a place to stay, but as a gateway connecting our visitors to our historic downtown, our thriving local businesses, and the natural beauty of Lake Ray Roberts and of Horse Country.'
MDD Executive Director Denise Morris added that they will be watching the progress closely.
'We appreciate this partnership,' she said. '... This is a big project and a big deal for Pilot Point.'
In addition to the 71room facility, meeting room and indoor pool, there will be a separate event center beside it.
It is also an EB-5 Investment project.
Texas Republic Bank Executive Vice President Brett Kuhn said his bank was happy to provide the financing for the project.
'I think it's good for the city of Pilot Point,' he said. 'I think it's just the start of growth—commercial growth—here along 377, and I think it will continue on now.'
