However, lack of money and political acceptance stands in the way of the hotel. Mayor Sam Adams says that if the city backs the $200 million Convention Center hotel, then the hotel’s future patrons will make up the cost through visitor taxes within five years.
The hotel would offer conventioneers hundreds of rooms. Adams was reported stating that to pay for itself, the hotel would have to bring in eight outside conventions a year.
As advised by his task force, comprising prominent hoteliers and developers, Adams is ready to spend $4 million on the engineering and design of the hotel. With the task force set to offer some refined financial projections, Adams is optimistic that the recommendations will back his hopes for the hotel.
