Brevard Staytion Moving Forward with $30M Boutique Hotel

Pisgah Hospitality LLC announced its plans to construct a $30M hospitality development, Brevard Staytion, along Asheville Highway in City of Brevard. Based in upstate South Carolina, Pisgah Hospitality is a boutique development group and hotel operator focused on modern, upscale, eco-friendly hotel and treehouse-style accommodations. The project plans to break ground in early 2024 and will invest $30,148,500 in real and personal property by 2026, creating at least five new positions with an average annual salary of $80,000.

Brevard Staytion has been under development since early 2022, acquiring a 15-acre property along Asheville Highway in Brevard near the intersection of Lambs Creek Road last year. The project will offer 54-keys, including a 36-room lodge, treehouse rental cabins, a state-of-the-art event and entertainment venue, an adventure concierge service and on-site hiking trails. The development will also make conservation improvements to Lamb’s Creek to enhance the hotel’s stewardship of the property – a key piece of the customer experience and a value important to the development team.

“We’ve been working on this project for almost two years and are very eager to get started,” said Matt Grandy & Brice Bay, two of the partners leading the development team. “Through all aspects of this process: working with the City of Brevard through permitting and zoning, engaging with local suppliers, vendors and partners, and Transylvania County’s strong support, have all helped streamline the development process and create a dynamic relationship with community partners.”

“Tourism spending exceeded $188M in Transylvania County in 2022 and Brevard Staytion is an exciting addition to our strong brand as a destination and a hub of hospitality tax base and job creation,” shared Jason Chappell, Chair of the Transylvania County Board of Commissioners. “This project is another example of the Transylvania County’s ongoing commitment to having a diverse and vibrant economy and is a quality project will bring new hospitality amenities to Transylvania County and will help make our community even more attractive for visitor spending.”

Maureen Copelof, Mayor of the City of Brevard added, “from start to finish this is great project for our community – the hotel will provide excellent accommodations and amenities for residents and visitors, connect its guests with Brevard’s many world-class recreation assets, and the development team has shown a strong desire to be meaningful stewards of their land while working with local partners to develop and build the hotel.”

“The tourism industry employs over 1,100 people in Transylvania County and contributed almost $50M in annual payroll last year, said Brian Traylor, Chair of the Transylvania Economic Alliance (TEA) Board of Directors. “The TEA’s strategy involves attracting investment to our community that’s aligned with our values, strengths and trends: tourism is a major economic engine for Transylvania County and having high quality hospitality amenities like Brevard Staytion is a great example of leveraging our assets to generate new taxable investment and job creation, while attracting new visitors and spending to our community.”

 


 

The Transylvania Economic Alliance is a 501(c)(3) non-profit focused on reinforcing and building a dynamic, local economy in Transylvania County, NC and across its unique places and communities. For more information on our target markets, and our areas of focus, please visit TransylvaniaNC.org or call (828) 393-4130.

 

ECONOMIC IMPACT

Using IMPLAN, a leading provider of economic analytical data, the Transylvania Economic Alliance (TEA) conducted an economic impact analysis of the full impact of the hotel’s construction (through 2026), combined throughout the data shown below with one-year of annual impact data for the operation of the hotel with 5 employees with an average wage of $80,000 with using an average annual sales estimate provided to TEA by the developers.

 

Detailed Output

The study indicated that the total economic output would exceed $53,000,000. This is factoring in the cost of construction ($28,507,000), one projected year of sales ($9,000,000) and output from suppliers, vendors (indirect impacts) and from household spending and services (induced impacts) which are estimated to exceed.

The following chart shows the direct, indirect and induced economic output for the just the Top 22 impacted industries. When interpreting the data, keep in mind the direct output of constructing the facility will conclude in 2026, whereas $9,000,000 in output from the hotel industry refers to one year of sales, and will have ongoing implications not shown here! Also, keep in mind that without knowing the exact vendor/source of the $1,641,5000 expenditures in equipment, that investment isn’t factored into this data at all.

 

Tax Impact

The tax analysis below has table for each level of government: Federal Tax Impacts, State Tax Impacts, County Tax Impacts, Sub County Special Districts Tax Impacts (think fire and school districts), and Sub County General Tax Impacts (think city and township, in this case City of Brevard is a taxing jurisdiction) although data at the municipal level is limited with IMPLAN analysis.

 

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