Drury Hotels purchased another developable lot in Downtown Omaha adjacent to the lot the company already owns
Last year, Grow Omaha reported that Drury purchased the surface parking lot at 322 South 10th Street on the northwest corner of 10th & Harney Street from an entity affiliated with Embassy Suites. The purchase came with several restrictions including limitations of 252 hotel rooms, 4,000 sq. ft. of meeting space and an opening date no sooner than 2029. Embassy Suites operates a hotel one block to the south.
At the end of last month, Drury closed on a $5.8 million purchase of a largely greenfield site at the southeast corner of 10th & Harney Street. Purchased from Conagra Brands, this 1.4-acre parcel has a paved trail, but otherwise has no other improvements.
Currently, there are no recorded restrictions similar to the property across the intersection. The deed does include a restriction that no hotel under the upper midscale as defined by the STR Chain Scale can be operated there for at least 20 years. That restriction specifically does not exclude a Drury branded hotel. Additionally, Conagra has a right of first refusal, but it is limited.
Drury Hotels is currently constructing a hotel in downtown Lincoln. That development consists of an 8-story, 252 room building with an adjacent surface parking lot. Based in St. Louis, Drury Hotels operates more than 150 hotels in 26 states.
