South
Nashville Chooses Omni to Build Music City Center Headquarters Hotel
August 24, 2010
Confirming weeks of rumors, city officials have reached a predevelopment agreement with Omni Hotels & Resorts, which they have selected to build a new convention center hotel in downtown Nashville, Mayor Karl Dean announced today.
Serving Nashville's new Music City Center convention center, which is currently under construction and scheduled to open in 2013, the new Omni Nashville Hotel also will open in 2013, featuring approximately 800 guest rooms and over 80,000 square feet of meeting space, including two ballrooms, not to mention several restaurants, bars and lounges, as well as retail space, a pool, a fitness center and a spa.
"By itself, the convention center is a homerun for downtown and our tourism industry," Dean said in a statement. "The addition of an adjacent headquarters hotel takes the convention center project from a homerun to a championship win in terms of attendance and the number of events it's expected to host every year."
Added Omni President Mike Deitemeyer, "We are proud to be adding the Omni Hotels & Resorts flag to Nashville's dynamic downtown environment. The City of Nashville has demonstrated strong and steady leadership in moving this project ahead. We look forward to working with Nashville's leaders to build upon the city's growing reputation with a new hotel, convention center and other venues which will further position Nashville as a leading destination."
At a cost of $250 million, the Omni Nashville Hotel will be built as part of a public-private partnership between Omni and the city; in exchange for an incentive package that includes an economic development grant valued at $103 million to be paid over 20 years by tourism taxes, as well as $25 million in tax increment financing, Omni has agreed to privately finance hotel construction.
"Many cities have had to publicly finance convention center hotels, and the general thought last year was that Nashville would have to do the same," Dean said. "Nashville's not those other cities. We're a special place. We have a unique appeal as a convention destination, and this project confirms that."
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