Beaver Dam’s newest hotel is open for business.
Holiday Inn Express, 311 Seippel Blvd., has 71 new rooms for guests to rent and opened Thursday evening. The hotel has a pool, a fitness center, a marketplace and more. Construction began last year.
General Manager Elizabeth Woyt said there has been a lot of interest from the community, with calls coming in for the past month asking when the hotel would open. A couple stopped in Wednesday to check it out for themselves.
Beaver Dam officials hope the hotel will help keep visitors for events like sports tournaments in the city, rather than see them leave to neighboring communities with available rooms.
The city used a tax increment finance district to encourage the development of the hotel. TIF districts allow cities to borrow money to give incentives to developers, then pay for the debt with the higher property tax revenue from the development.
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An agreement made last fall would have the city offer $700,000 in TIF funds upon completion of the project, or 10 percent of the $7 million in taxable new value promised by the developers.
Officials hope the hotel will also help bring other new retail to the area around the mall which is part of the TIF District.
Beaver Dam has three other hotels: AmericInn, Quality Inn and Super 8.
All hotels contribute room taxes to the city. Those funds are dispersed to the Beaver Dam Economic Development Corporation and the Beaver Dam Chamber of Commerce. The chamber of commerce uses the room tax funds it receives for tourism promotion.