Tourism in Oxford has skyrocketed over the past few years.
With Ole Miss enrollment and overall population at an all-time high, Oxford has quickly become a sought-after hotel destination.
Oxford is home to three new hotels; the Graduate Hotel, which opened in October, the Courtyard by Marriott, opening in April 2015, and the Chancellor’s House, scheduled to open in September 2016.
According to Visit Oxford, the hotel market brought in more than $22.5 million in combined lodging revenue for 2015. The most highly-occupied and profitable months include May, June and October.
Mike Hoover, general manager of the Graduate Hotel, said he believes the market in Oxford is well poised for a boutique hotel setting.
“Oxford is the ideal market for Graduate due to the town’s unique character and timeless style, which is the perfect match for our hotel,” Hoover said.
Hoover said he believes the growth in the amount of hotels in the area will help attract more groups and conventions to the Oxford area. According to Hoover, increased growth in competition is ultimately promising for the market as a whole.
Hoover said football season and graduation weekend are projected to be the Graduate’s busiest time frames.
Hoover said all 136 of the Graduate’s rooms were sold out for football season before the hotel was even officially opened and operating.
“This year, we will open for reservations on March 1 and anticipate to sell out of our inventory extremely quickly,” Hoover said.
The Graduate is already booked for graduation weekend.
The Chancellor’s House, located off the Square, captures a unique segment of the hotel market share, according to general manager Mike Donahue. He said there will be 31 rooms and suites in the hotel.
“Oxford is a very special destination,” Donahue said. “When you have a facility with an ‘absolute platform’ in the right location, it adds to the profile of the hotel, which is why we think Chancellor’s House will be profitable in the Oxford area.”
Donahue said he was impressed with the Oxford’s dedication to maintaining the town’s historical and architectural values, which has proved to be an attractive factor for the hotel market.
According to Donahue, the inspiration for the Chancellor’s House stemmed from a conversation with Ole Miss alumnus Dave Porter, who was frustrated by the lack of hotels in the Oxford area.
“That’s how it all started,” Donahue said. “Mr. Porter said, ‘I just can’t find a room.’”
Donahue said he is excited and optimistic about the future of Chancellor’s House. The hotel has received calls and reservations from Germany, Australia, both the east and west coasts and bordering SEC states.
“We have received more reservations than we thought,” Donahue said. “We are really encouraged right now.”
Contrary to the Graduate, Donahue said he doesn’t believe Ole Miss football season will be their peak time period.
“We have reservations for both before and after football season,” Donahue said. “We most certainly did not build a hotel just for the football season.”
Football season alone is projected to account for approximately 20 percent of their total occupancy, Donahue said.
The expanding hotel market is not only excellent for tourism, but also a positive sign for the working sector to stimulate the economy. Donahue said The Chancellor’s House management team is looking forward to recruiting Ole Miss hospitality students in order to allow them to gain insight into their majors.
Junior hospitality major Sydney Timm said she is looking forward to the opportunity to work with new and future hotels in Oxford.
“Both the Chancellor’s House and the Graduate will give hospitality majors an opportunity to gain internship hours and work experience,” Timm said. “These new properties, along with others soon to come, will give us the hands-on experience we might not otherwise find without leaving the area.”
