Several hotels have recently opened or been announced in Lewisville and Flower Mound.
The Courtyard by Marriott Dallas Flower Mound, which opened in September in the Riverwalk development, marks the town’s first hotel.
It features more than 9,000 square feet of meeting space, an indoor swimming pool and a fitness center.
In nearby Lewisville there are several hotels under development, including Aloft by Marriott, Home 2 Suites and Candlewood Suites.
Additionally, Lewisville’s La Quinta Inn & Suites is being rebuilt. The Texas Department of Transportation acquired a portion of La Quinta’s I-35E property during the road widening project. As a result, La Quinta chose to purchase adjacent land, and the owners are completely rebuilding the hotel.
The addition of hotel rooms means an increase in hotel occupancy tax, or HOT funds, which cities must use to promote tourism as well as the convention and hotel industry.
Flower Mound has never had the chance to receive HOT funds, and Economic Development Director Andrea Roy said the town will not be receiving any hotel tax revenue from Courtyard for eight years. As part of an incentive agreement to bring the town’s first hotel, Flower Mound agreed to rebate the approximately $250,000 in annual HOT funds back to the developer for the eight-year period, Roy said.
The town will receive a portion of the property and sales taxes from the hotel.
Roy said upon the opening of a second hotel, Unscripted Hotel, the town will receive a portion of the HOT funds.