NEW ORLEANS (WGNO) — Omni Hotels Corporation is expected to begin development of a new headquarters hotel in New Orleans following unanimous approval by the Ernest N. Morial New Orleans Exhibition Hall Authority.
It will be located across the street from the Convention Center in the block currently occupied by The Sugar Mill event space and a nearby parking lot and serve as a home base for whatever convention is going on at the time.
“Typically, registrations happen there. Suites and events happen in the building. It’s their first order of business to stay at that hotel because it’s the most convenient to the convention center where many of the events are held,” said Convention Center President and CEO Michael Sawaya.
The current plans indicate it will stand 25 stories tall, about 1 million square feet wide, with nearly 1,000 rooms.
“You can have meet and greets that are in the convention hotel area before you go in the actual convention. So, just a lot of convenience all the way around,” said convention attendee Deborah Alexander.
Convention Center leaders will be paying about $19.2 million for the site of the hotel, with the hotel itself projected to cost about $565 million. Omni Hotels Corporation plans to fund about $500 million of the project, with the rest coming from the taxpayers.
“Our taxes come from hotel occupancy taxes, and the restaurant tax, and contractor taxes. So, we’ll use those funds that we collect toward contributing to this hotel,” Sawaya said.
Once completed though, leaders project this hotel will generate a 20% boost in event days at the convention center, 100,000 room nights and about $280 million in total economic impact per year in the city.
“Every hotel that we develop gets better than the last one, and we look forward to working with the authority and the community here to make the best Omni Hotel located here in New Orleans,” said Real Estate & Development TRT Holdings, Inc. Executive Vice President Michael Smith.
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