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Texas consultant Jeremy Stone, hired by The Alliance for the Economic Development of Oklahoma City, told the council his research shows the city can support a 735-room, $200 million conference hotel as part of development of a $250 million convention center south of the Myriad Gardens.
That wasn't a full feasibility study, it was a consultant hired to analyze the feasibility of a convention hotel back in 2013 that was not commissioned by the city.
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While we opine that the market will inevitably perform at levels exceeding 64.2 percent in some years, it will also likely decline in some years,” Stone wrote in his report.
“The city council wanted to know if with the building of a new convention center, did we need a hotel,” O'Connor said. “And if so, what size? This tells them they need a convention center hotel. The next step is to look at financial feasibility.”