Convention Center

[Just the facts]

What is to prevent a private developer from build such a hotel Rover? At best, OKC might land 3 or 4 additional major conventions than already visits OKC in any given year so the 'block of room' argument rings hollow. OKC will not be hosting a major national convention ever week of the year. All of the local, state, and regional conventions already make regular stops in OKC so they do not represent any new dollars into the local economy.

If this hotel was being built some distance away from other potential sources of revenue then the 'subsidy' argument would have a little more validity but this hotel would be built in one of the most desirable parts of Oklahoma City, if not the entire state. They will have revenue streams available from multiple sources including downtown companies, Bricktown, the Oklahoma City Arena, Myriad Gardens, AND the convention center. Most convention hotels only get business from conventions which is why they are subsidized to begin with.

You pay subsidies to encourage people to development where they would not normally develop. You don’t pay subsidies to build where they would naturally build all on their own.

[Rover]

What is to prevent a private developer from build such a hotel Rover? At best, OKC might land 3 or 4 additional major conventions than already visits OKC in any given year so the 'block of room' argument rings hollow. OKC will not be hosting a major national convention ever week of the year. All of the local, state, and regional conventions already make regular stops in OKC so they do not represent any new dollars into the local economy.

If this hotel was being built some distance away from other potential sources of revenue then the 'subsidy' argument would have a little more validity but this hotel would be built in one of the most desirable parts of Oklahoma City, if not the entire state. They will have revenue streams available from multiple sources including downtown companies, Bricktown, the Oklahoma City Arena, Myriad Gardens, AND the convention center. Most convention hotels only get business from conventions which is why they are subsidized to begin with.

You pay subsidies to encourage people to development where they would not normally develop. You don’t pay subsidies to build where they would naturally build all on their own.

If it is such a great and risk free opportunity the city won't have to pay anything. They aren't going to volunteer it, of course. However, to build a LARGE hotel suitable to do what is required will most likely increase the risk and decrease the developers who will be interested. I'm just telling you how most of the deals are being done today. While you and others here are proud of our city and think every business opportunity is a slam dunk, investors don't all agree. If we want a real convention hotel with real convention amenities, we likely will have to subsidize to some degree. That is reality.