The Oklahoma City council has begun talks with Omni to erect a hotel along with the new convention center. However, they are hoping to get the best deal.
The $288 million convention center will be attached to a hotel with 600 rooms. The Urban Renewal Authority's main goal is to negotiate the $84.5 million appeal for city funds from Omni. They are willing to pay for the rest of the hotel, which is set to cost $235.5 million. Yet Oklahoma City picked Omni because Marcus Hotels and Resorts asked for $105 million. Omni is asking for the city to pay for 36% of the hotel's cost, which is on the lower side of what they have asked for in other locations. Omni Nashville had nearly half of the cost covered by the city.
The city brought in PFM consultant Tom Morsch to aid negotiations. He stated that starting figures are good but he believes they can be lower. According to Urban Renewal Authority director Cathy O'Connor, setting a number in stone includes visits to the site, phone calls, and alterations to the contract.
Oklahoma City has contemplated putting a convention hotel downtown but there were several questions to answer such as business model, subsidies, and how the convention hotel will affect the city.
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