Omni Hotel

[Pete]

Some images from the presentation made to city council last week:

[G.Walker]

Family and I walked around Scissortail Park today. Omni Hotel is massive a lot larger in person, looks alike all the glass if fully installed at the crown also.

[Laramie]

Laramie- are there any conventions scheduled during that first 4-6 months before the Omni is open?

New Oklahoma City Convention Center bookings:

Officials reported that the city is already booking dates for the new yet to be opened convention center.

So far seven national and international organizations have signed eight contracts for conferences and conventions in the new convention center.

The 2022 Annual Conference for International Economic Development Council and the 2024 National Sheriff’s Association convention are among some of he most noteworthy conventions to sign contracts with the new convention center. National Sheriffs Association is a fairly large with an estimated 4,000 delegates according to Mike Carrier, president of the Oklahoma City Convention and Visitors Bureau.

2021 National Brownfields Training Conference for the International City/County Management Association.
2022 and 2024 Legal Shield international conventions.

Organizers anticipate more than 37,000 room nights and $20 million in direct economic impact could be received from the results of these bookings.

Carrier said the 2022 International Economic Development Council will bring delegates involved in site selection and economic development whose impact on the city might extend longer after their visit.

The current Cox Convention Center (formerly Myriad CC) may be needed as a backup for overflow; it may be open until 2024-25.



“There may be situations where the new convention center is full and we may need to move somebody to the Cox Center,” Carrier said. “It depends on how long the city keeps it open — they’re talking about as long as three years.”--according to reports from The Oklahoman, January 22, 2020

[soonerguru]

Pete, other than the pool area that fronts the park, what is going to go on the large flat space? I cannot recall.

[Pete]

[OKCRT]

Hmm, It appears that they didn't build the CC big enough. There were some people talking about that right after plans were released. Same with the Omni Hotel. Next thing they will have to add on to the CC if they want to compete for bigger bookings.

[Plutonic Panda]

The CC was designed to be expanded, right?

[Anonymous.]

Yes, this forum was calling it years ago. The CC and the Omni both are underbuilt as opposed to overbuilt. It is very frustrating, but at least it may result in an additional high-tier hotel nearby.

[Plutonic Panda]

Yes, this forum was calling it years ago. The CC and the Omni both are underbuilt as opposed to overbuilt. It is very frustrating, but at least it may result in an additional high-tier hotel nearby.

It would be nice if we saw a Four Seasons or JW.

[Laramie]

Yes, this forum was calling it years ago. The CC and the Omni both are underbuilt as opposed to overbuilt. It is very frustrating, but at least it may result in an additional high-tier hotel nearby.

The 4 sq., block Cox site could come into play if Omni wants to exercise exclusive 1st rights for development; or they could add a smaller 200-300 room hotel on the current complex.

OKC will have 738 rooms on the complex (Omni/Fairfield); look for the City to take time on demolition (3-4 years) of the Cox site--which benefits the nearby Sheraton, Renaissance, Hilton-Skirvin & Courtyard by Marriott--IIRC all of these hotels have shuttle services.

[soonerguru]

So, from this perspective it appears that like 2/3rds of the space is not activated. That is somewhat disappointing.

[JDSooners]

Yes, this forum was calling it years ago. The CC and the Omni both are underbuilt as opposed to overbuilt. It is very frustrating, but at least it may result in an additional high-tier hotel nearby.

Or many reasons to keep the maps program rolling

[Anonymous.]

I forgot about Omni's new hotel construction prevention radius clause. Likely in this thread, but cannot recall when it expires.

[Laramie]

I forgot about Omni's new hotel construction prevention radius clause. Likely in this thread, but cannot recall when it expires.

IIRC 25 year duration of agreement; also Omni has the option to delay opening if the convention center and/or the convention center garage aren't completed; both are on schedule.

[Pete]

I forgot about Omni's new hotel construction prevention radius clause. Likely in this thread, but cannot recall when it expires.

It only says no TIF money can be given to a hotel project downtown.

[hoya]

I forgot about Omni's new hotel construction prevention radius clause. Likely in this thread, but cannot recall when it expires.

It doesn't prevent construction. It prevents public funds from being used to incentivize construction.

[Anonymous.]

Thanks for the clarification!

I hope that OKC hosts an NBA All-Star weekend in my lifetime, and I know we need many more nice hotels in order to ever have a chance.

[G.Walker]

It doesn't prevent construction. It prevents public funds from being used to incentivize construction.

That's a big deal. Most large scale projects look for TIF funds to help with construction costs. I hope this clause doesn't derail any major hotels coming downtown in the near future.

[Pete]

^

Only a few of the downtown hotel projects received public assistance, and all were special cases: Skirvin, First National and 21c.

The other 15 or so built recently have done it under their own steam, including the full-service Marriott Renaissance now under construciton.

[G.Walker]

I understand what you are you saying, but the other 15 are mostly 4-5 stories, cookie cutter hotels. But if we are looking for a major, large scale 4-5 star hotels, in the $100M+ price range, I'm sure TIF funds will be need to considered.

[Pete]

[Laramie]

You really want to attract quality conventions to Oklahoma City. We need another 4 star hotel, twice the size of the Omni--1210 rooms and height 35 - 40 stores on the Cox site for a 2025 opening; 1815 four star rooms on the convention center complex.

The subsidy for the 605 room Omni (under construction) was $85.5. A $600 million, 1210 room Omni Hotel on the Cox site 2022-23 construction would move OKC to the next tier. Estimated subsidy $175 million; that would also depend on how successful the 605 room Omni will be. This would be a huge investment challenge. We have over built parking accommodations within the downtown core.

Hope to get a lot of responses...

[BDP]

You really want to attract quality conventions to Oklahoma City. We need another 4 star hotel, twice the size of the Omni--1210 rooms and height 35 - 40 stores on the Cox site for a 2025 opening; 1815 four star rooms on the convention center complex.

The subsidy for the 605 room Omni (under construction) was $85.5. A $600 million, 1210 room Omni Hotel on the Cox site 2022-23 construction would move OKC to the next tier. Estimated subsidy $175 million; that would also depend on how successful the 605 room Omni will be. This would be a huge investment challenge. We have over built parking accommodations within the downtown core.

Hope to get a lot of responses...

Well, I guess the math you're suggesting would be as follows:

$85.5 million subsidy created X amount of return. So, naturally 2 times the subsidy would create 2X the amount of return.

But, I guess, the real question becomes, how much government subsidy to chosen businesses does it take to no longer need to offer government subsidies to create a market into which entities want to invest $600 million in non-government-incentivized dollars?

[Laramie]

Well, I guess the math you're suggesting would be as follows:

$85.5 million subsidy created X amount of return. So, naturally 2 times the subsidy would create 2X the amount of return.

But, I guess, the real question becomes, how much government subsidy to chosen businesses does it take to no longer need to offer government subsidies to create a market into which entities want to invest $600 million in non-government-incentivized dollars?

We'll just have to see what the first year's numbers are for the Omni. The quality hotel industry know that they can get their hotels subsidized.

It just seems that we always manage to under build; therefore by the time we expand to correct an earlier missed opportunity--it's too late.

Example: When we built the Myriad Convention Center in 1969; hotels to support the Myriad had all closed except one (Sheraton Century Center). OKC was ready for a much bigger convention center similar to what we'll unveil in the fall of 2020; also we'll look back on the decision to go with a 605 room conference hotel instead of a 700 - 800 room hotel built to accommodate growth.

Cox Convention Center, which is currently the city’s main convention center, may not be used as the main convention center one year after Omni opens. The agreement restricts redevelopment as a hotel. Omni would be offered first rights to develop a hotel on the site. Additionally, the agreement creates a “no-subsidy zone” that would restrict the city from offering subsidies for any future hotel development. First National Center, which is beginning renovations to make way for a hotel, apartments and retail/dining, was excluded from the zone.

First National Center will be the only 5 star hotel in the state of Oklahoma.

Our city's potential IMO is underestimated.

[Laramie]

The more you think about it, the Cox Convention Center could be used as a backup for convention overflow of the new convention center; this is already being discussed.

Do you think the City will be in any hurry to demolish the Cox Convention Center...