CAMDEN COUNTY, Mo. — The developer of a new resort hotel planned for Lake of the Ozarks is hoping to bring more millennials to the Lake.
A study of resort areas across the United States completed by HVS, a leading hotel and market assessment group, has identified the Lake of the Ozarks as an underserved market in the area of lodging. According to HVS, millennials and others have a strong preference for brand-name hotels.
Developer Dan Foster, of Osage Beach, has been moving forward with the preliminary stages of a large waterfront resort at the Lake. Foster says with major hoteliers Hilton and Westin indicating interest in the project, the project could bring the big name recognition that the study indicated draws the generation whose oldest members are currently reaching their mid-30s and are looking at places to vacation with their growing families.
Foster says the new resort hotel will also have amenities that draw younger travelers and those with children to entertain. In addition, the planned public event space associated with the hotel is expected to bring new business and new people interested in the Lake to the table.
The HVS study suggests the Lake could use a boost in resort interest. In 2015 room-night demand in Branson grew by nearly 8 percent as the town works to transition to appeal to a wider demographic. During the same period, the Lake’s room demand increased just 2.2 percent.
Camden County Presiding Commissioner Greg Hasty has called the project a "game changer" for the Lake area. Foster agrees. "We are going to put new excitement into the Lake market," he said. "Research shows that a lot of people come to the lake for the first time, see what a great place it is and end up wanting to be involved here.
"That can lead to people making the lake a vacation destination, buying a home or investing in some enterprise here. That first visit opens the door."
