Extended Stay Lodging Development in Altus, Oklahoma

City of Altus

The buyer seeks to create an extended stay lodging facility on approximately four acres of City-owned property. The project aims to attract extended-stay business travelers and students from Altus Air Force Base. The buyer desires a sustainable, safe, and clean facility with onsite amenities. The development is part of a larger 250-acre Tax Increment Financing Zone, and respondents may suggest additional uses for the larger parcel.

• 2/5/2025 - Industry Day
• 2/19/2025 - Deadline for Submitting Questions
• 3/5/2025 - Proposal Due Date
• 4/2/2025 - Release of Request for Proposals (RFP)

• Demonstrated experience in development, construction, and marketing of similar projects
• Experience working with public entities
• Expertise in hospitality or similar commercial uses
• Financial strength and commitment to fund the project

• Plan and design an extended stay lodging facility
• Secure financing for the development project
• Develop the lodging facility on approximately 4 acres of City-owned property
• Operate the extended stay lodging facility
• Provide onsite amenities for business travelers and Air Force Base students
• Establish the property as a top lodging destination in Altus
• Coordinate with City for land use approvals and permits
• Consider additional development options for the larger 250-acre TIF zone
• Enhance the inventory and quality of lodging options in Altus metro area
• Create a sustainable, safe, and clean extended stay lodging facility