Bellefield at Hyde Park will provide a huge financial boost to the local economy. Its lodging options will accommodate the existing demand of an estimated 1 million visitors annually to Hyde Park, and over 4.5 million visitors to Dutchess County. Visitors will be able to extend their stay from current “day trips” to “multi-night” visits – bringing business to the local economy. Bellefield will help the county and region capture professional conferences, weddings, community events, and social gatherings currently lost to better equipped facilities outside of the area. According to a 2015 Economic Impact Study conducted by Hotel & Leisure Associates:
- The ten year combined operation and visitor spending economic impact will be over $634 million
- 25% of goods and services used in construction will come from Dutchess County
- More than half of the hotels’ expenses will stay in the area
- Visitors of more than 60,000 will visit the hotel in first year of operation
- In its first year, the project will also generate $4.25 million in spending in Dutchess County.