The two hotel brands that will bid on the development of the cc conference hotel are Omni and a combined bid by Marcus (Hilton, Starwood, IHG, Westin & Marriott) & Mortensen (Hyatt Recency, Hilton, Ritz-Carlton & Marriott).
Let's hope the selected brand/developer is willing to fund a good 70% ($140 million) of this project expected to cost in the $200 million range. City of OKC may have to subsidize $60 million through TIF and other sources. Consider Louisville's $139 million & Nashville's $128 million to subsidized their convention center hotels, OKC may have to shell out some bucks to attract some of the more lucrative conventions.
A good investment by the city may provide another catalyst impact by the new convention center conference hotel could spur another wave of hotel development.
Construction of a 600 room conference hotel has the potential to draw some larger conventions that could spill over with use of a number of downtown-Bricktown hotels.
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