August 17, 2016
In the wake of floods hitting Baton Rouge, LA, hotel and apartment supply is diminishing, in a scenario that is similar to the aftermath of Hurricane Katrina in 2005. Employers attempting to secure housing for their employees have been snatching up available apartments throughout the city.
In one example, Wampold Cos., which owns and manages 600 units throughout the city, has no available inventory. Mike Wampold indicated that his properties were already 90% leased when Our Lady of the Lake Regional Medical Center leased everything else.
Wampold also said his two hotels, the Renaissance and Wyndham Garden, are completely booked. Meanwhile, Visit Baton Rouge’s CEO Paul Arrigo indicated that the city’s hotels are at 100% occupancy.
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