The construction of a hotel on Collierville Road has been delayed.
The town’s Board of Mayor and Aldermen are schedule to approve a two-year extension for the Holiday Inn Express and Suites that will be built on the north side of Collierville Road, east of Houston Levee Road.
Located on 2.2 acres, the 51,448-square-foot hotel will feature 85 units.
The preliminary site plan was approved by the Planning Commission in 2018 and the Board signed off on the development in 2019.
Construction is now scheduled for completion in May of 2023.
The initial development agreement was set to expire this May.
Sameet Patel, managing partner with Onyx Collierville Hotel, a Florida-based hospitality company, said that the “effects of the COVID-19 pandemic on the hotel industry during 2020, causing an unforeseen delay in project construction.”
He added that the pandemic caused an increase in construction materials and cost margins.
Another Onyx hotel in Southaven has also been delayed.
“We anticipate construction to begin in 2021,” he added, “with completion in 2022. Therefore, we request a two-year time extension.
