Thursday Thoughts: New Beginnings on an Old Foundation: Fall Creek Falls Lodge, TN
Providing ideas and insight that can inform agency and partner strategies for improvement of park, recreation and hospitality operations and assets
New Beginnings on an Old Foundation: Fall Creek Falls Lodge
CHMGS is excited to share that its’ client, Tennessee State Park’s, has rebuilt and recently opened their brand-new lodge at Falls Creek Falls! What ribbon cuttings don’t show are the multiple years of work and stakeholders behind this type of accomplishment. CHMGS would like to think that their pre-work was essential to the re-establishment of this signature resort lodge destination.
From 2017 to 2019, CHMGS supported Tennessee State Parks’ leadership team by testing the market with an RFI, undertaking market, financial and investment analysis for an RFP and then developing position papers for Tennessee State Parks to support an $100 million dollars investment in two brand new and two remodeled lodges. Once the investment decision occurred, the CHMGS team was instrumental in supporting the State with both operational asset management oversight as well as project management support for the renovation and new construction of the four lodges.
How this relates to your Needs?
Redevelopment of recreation and hospitality assets requires an understanding of market, financial and investment analysis, but also requires agency leadership, commitment, and flexibility. As the stakeholders in Tennessee will tell you, the road to the ribbon cutting for the four Tennessee State Park lodges involved many detours. However, sound research, analysis and asset management support provided by the CHMGS team, were all part of what allowed the State of Tennessee to transform their lodging portfolio and improved their offerings to their visitors.
Let us know how we can assist your organization in repositioning your assets for your visitors!
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