BEDFORD, Va. (WDBJ7) Planning is underway for a new hotel in Bedford.
Dogwood Development, a company based in Radford, has signed a letter of intent with Bedford's Economic Development Authority to build a "business-class" hotel.
A site for the project has not been selected and financing still needs to be secured.
Dogwood Development already operates several hotels in other parts of Southwest Virginia.
FULL NEWS RELEASE FROM THE TOWN OF BEDFORD:
The Town of Bedford’s Economic Development Authority today announced it has entered into an exclusive arrangement with Dogwood Development Company to negotiate and plan the feasibility of the construction of a business-class hotel in the Town of Bedford.
In the Town’s ongoing efforts to generate economic growth through tourism and incentivizing business, Bedford’s leadership believes offering more and better amenities must be part of the solution. Mayor Bob Wandrei stated “A business-class hotel will help accommodate the Town and County’s thriving tourism and recreation industries, provide options for those on business travel in the 460 corridor, and offer additional conference space for area businesses. “
Dogwood Development Company President and CEO, James Oliver, have extensive experience in designing, building and operating successful hotels in Southwest Virginia, and have identified Bedford as an area that
has a lot of potential to support a business class hotel. Said Oliver, “ We are very excited to be taking the initial steps to develop a hotel in the Town of Bedford which we think will spur lots of temporary and permanent jobs and other economic development and benefits throughout the area.”
The LOI provides for the Town of Bedford’s EDA and Dogwood Development to begin meeting and discussing key aspects of the hotel development project, including but not limited to site selection, design, incentives, zoning, and financing.