BELGRADE, Mont. — ERES Capital, the full-service investment and development division of Energy Real Estate Solutions (ERES), has announced the development of a new hotel in Belgrade, Montana. Located in the forthcoming Yellowstone Airport Plaza—a mixed-use master-planned development that broke ground in June 2019—the new hotel will serve the growing demand of Bozeman Yellowstone International Airport (BZN). Construction is anticipated to start this summer.
The 65,000-square-foot, four-story, 120-key hotel will be adjacent to BZN, Montana’s busiest airport and one of the fastest-growing in the country. The hotel will accommodate travelers visiting Belgrade, Bozeman, the expanding Big Sky Resort areas, and three National Parks: Yellowstone National Park, Glacier National Park, and Grand Teton National Park, which collectively serve more than 10 million annual visitors.
BZN has had a record-breaking decade with several development projects including a terminal expansion and a parking garage that is the largest in Montana. The airport has gone from serving approximately 680,000 passengers in 2009 to over 1.5 million passengers in 2019. In 2015, to better serve the influx of traffic the airport has seen, Gallatin County, the city of Belgrade, and BZN worked together on the I-90 Interchange Project which created a new exit and built two underpasses, roundabouts, and sidewalks.
This increased traffic also spurred the development of Yellowstone Airport Plaza, the anticipated new commercial hub for Belgrade, Bozeman, and BZN visitors. At 53-acres, the mixed-use complex is the largest development in the area and will include ERES Capital’s new hotel project.
“We are very excited about the incredible location of this hotel project, being less than a mile from one of the fastest-growing airports in the country and located in the only commercial development in the area,” said ERES Capital CEO Mike Elliott. “Typically, you will see 20 to 30 hotels around an airport of this size, and while supply has grown in the downtown Bozeman area, virtually no hotels have been built in the Belgrade or airport area for over seven years, making this an incredible opportunity.”
ERES Capital plans to announce the hotel brand and the hotel’s management partner in the second quarter of 2020.