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LouisvilleKY is the Hottest Growing Hotel Market in the Country

Bourbon City Outpacing National Trends, Takes Top Growth Spot LOUISVILLE, Ky. – All eyes are on Louisville this spring, but it’s not just the 145th Running of the Roses that’s bringing them here. According to CBRE Research, Louisville had the largest year-over-year hotel demand increase in the first quarter of 2019 at 11.4%, while demand nationally only grew 2.4% in the same quarter, slightly below last year. CBRE Hotels Americas Research specializes in analyzing and reporting on both the historical and future performance of the lodging industry. They measured the growth performance of the top 60 major markets in the first quarter…


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Mayor Fischer presents austere budget for LouisvilleKY

LouisvilleKY., – Mayor Greg Fischer proposed last week an austere 2019-2020 city budget that manages the impact of a $35 million budget deficit, driven largely by a 12 percent increase in the city’s state pension costs, while working to minimize the impact on Louisville’s most vulnerable. The $623 million general fund budget anticipates a revenue growth rate of 2.9 percent, which is dwarfed by the size of the increased pension cost – $20 million higher than in 2018. The Mayor had previously warned that despite a growing economy, the pension challenge would, without new revenue, result in $35 million in…


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Airbnb Announces Kentucky Derby Economic Impact Data for LouisvilleKY

LOUISVILLE, KY — Airbnb, the world’s leading community-driven hospitality company, announced today that Louisville residents will earn over $2.5 million in income while welcoming an additional 5,800 guests to Louisville this coming weekend as hotels largely sell out during the weekend of the Kentucky Derby. Home sharing will allow the city to utilize pre-existing resources – people’s homes – to expand lodging capacity and retain as many visitors as possible. This data is not a projection, but rather reflects only currently confirmed bookings during May 3-5. This economic infusion comes as Louisville hotels reach peak occupancy for the weekend, even with significantly spiked prices. “When more…


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Google Fiber, LouisvilleKY reach agreement

LouisvilleKY., – Google Fiber will pay $3.84 million to Louisville Metro Government (LMG) to restore roads and other public rights-of-way affected by its departing service in Louisville. Louisville Metro Government and Google Fiber agreed to these payments to fulfill the company’s obligations under its franchise agreement and local regulations, which require restoration of rights-of-way should a service provider end service in Louisville. Citing technical challenges, Google Fiber announced its exit from Louisville in February. The payments will be made over 20 months and will cover the costs for: Removing fiber cables and sealant from roads. Milling and paving activities where needed. Removal of…


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LouisvilleKY hotel Inducted into Historic Hotels of America in 2018

WASHINGTON–(BUSINESS WIRE)–Historic Hotels of America®, the official program of the National Trust for Historic Preservation for recognizing and celebrating the finest and most significant historic hotels, has inducted 27 historic hotels into membership in 2018. The oldest hotel dates back to the 1880s. Many of the historic hotels are adaptive reuse historic hotels that have involved converting some or all of a historically significant building to a hotel. Originally, these buildings were built for another purpose in their history. 16 of the 27 historic hotels inducted in 2018 are listed in the National Register of Historic Places, four of the…


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Passport to Halt Construction on West LouisvilleKY HQ

Nonprofit health plan seeking critical rate relief from Commonwealth of Kentucky Franklin County Circuit Court hearing scheduled for Feb. 26 Louisville, Ky. – Passport Health Plan is delaying construction on its new headquarters building at 18th and Broadway while the organization attempts to resolve a dispute with the Kentucky Cabinet for Health & Family Services. Passport is seeking immediate relief from a reduction in reimbursement rates that disproportionately impacts Medicaid beneficiaries in the Louisville area – where the majority of Passport’s members reside. Passport broke ground on the four-story, 337,000-square foot building in March 2018 and had planned to occupy the building by early 2020….


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OneWest purchases block of properties at LouisvilleKY’s 18th and Broadway 

   Louisville, KY., – OneWest has entered into an agreement to purchase nine buildings and adjacent properties at the corner of 18th Street and West Broadway. This represents an investment in West End valued at over $1 million. The goal of this investment is to continue to support small businesses and make investments that generate sustainable economic development in the West End. “This is a significant moment for OneWest. We set out to drive commercial and retail development in the West End and with this transaction, we’re now empowered to do that. We believe this location will be the epicenter of…


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LouisvilleKY releases Housing Needs Assessment

Louisville, KY., – Louisville’s Office of Housing & Community Development (OHCD) and the Louisville Affordable Housing Trust Fund (LAHTF) have published a draft Housing Needs Assessment (HNA) that provides the city’s first in-depth analysis of housing stock across Louisville Metro. The assessment was done by Mullin & Lonergan Associates of Pittsburgh at a cost of about $100,000. The HNA, which will be updated every five years, was conducted to provide current, detailed housing data that helps inform potential strategies that Louisville Metro Government (LMG), the trust fund, for-profit developers and non-profit developers can use to identify potential policies and development…


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Cellar Door Chocolates to open new headquarters in LouisvilleKY’s Portland warehouse district

Growing confectionary company building out 12,000 square ft. custom space within the Heine Brothers’ Coffee building at 1301 W. Main LOUISVILLE, KY. – Cellar Door Chocolates, a premium chocolate confectionary company announced today a significant planned expansion of operations to meet growing demand.  The company, which was originally established in 2007, is crafting a new headquarters, production facility and tasting room within the Heine Brothers’ Coffee corporate office and roastery building at 1301 W. Main Street.  Cellar Door, known for its confections, including truffles, bourbon balls, brittle and caramels, will continue to operate its two retail studios at 1201 Story Avenue in Butchertown Market and 601A S. Fourth…


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LouisvilleKY Metro Airbnb Hosts Earned $15.2 Million in 2018

LOUISVILLE, KY — Airbnb, the world’s leading community driven hospitality company, announced today that its Jefferson County/Louisville Metro host community earned a combined $15.2 million in supplemental income while welcoming approximately 124,000 guest arrivals to the region in 2018. This comes as locals increasingly embrace the home sharing platform as an opportunity to earn supplemental income and make ends meet. The typical Louisville Metro host earns about $4,300 annually in supplemental income. Yet, local data indicates that Airbnb and its host community appear to be complementing — rather than  competing with — the Louisville hotel industry. The Louisville Metro area is in the midst of a…