KC mayor praises $300M, 800-room downtown hotel project
KANSAS CITY (AP) - Kansas City Mayor Sly James is praising a newly announced $300 million, 800-room downtown hotel project.
James said in a news release Monday that the project has been needed for several years. Meeting planners say a lodging shortfall has caused numerous conventions to look elsewhere.
Plans call for the hotel to open in 2018 across from the Kansas City Convention Center's Grand Ballroom. Hyatt has been selected to be the hotel operator.
The release says the city investment of $35 million is fixed, and will be financed with revenues from existing taxes paid predominantly by out-of-town visitors. Taxpayers will not be responsible for any project cost overruns.
James called the project the "right development at the right location with the right hotel operator."