SAG prepared a feasibility study for a new convention center to be located in Albany, NY. Albany’s existing Empire State Plaza Convention Center is located within the state government complex. The center is over 25 years old and offers no exhibit space, a 17,500 square foot ballroom that is tiered and functionally difficult, and a few small meeting rooms.
Downtown also has only one full-service hotel. Over the past several years, competitive New York and regional cities had improved their centers and supporting hotel supply, leaving Albany at a competitive disadvantage.
Recognizing the opportunity from the hotel perspective, a hotel developer teamed with Marriott International and approached the City with the concept of a public-private partnership for a new downtown convention hotel. The City then engaged SAG to study the feasibility of a new convention center. Our services included primary market research, surveys of meeting planners, site analysis, comparable destinations research, facility programming, utilization projections, operating cash flow projections, funding analysis, and economic impact analysis. The analysis provided information vital to the public-private partnership analysis that the hotel development team was offering. The study recommended construction of a new facility as described above, as well as a master plan to double that amount of space in the future if warranted. A new 400-room convention headquarter hotel was recommended to maximize the utilization of the center.