Kansas City OKs finance deal for new convention hotel
KANSAS CITY (AP) - Kansas City officials approved a financing deal for building a new downtown convention center hotel.
The Kansas City Council on Thursday approved the financing deal to build an 800-room Hyatt Hotel just east of the Bartle Hall Grand Ballroom.
The Kansas City Star reported the $311-million project requires a public subsidy along with private investment, but doesn't use general taxpayer dollars nor require the city to guarantee the debt.
If the financing is completed by the end of 2015, construction could begin in the first quarter of 2016, with the hotel expected to open in mid-2018.
Critics contend it's expensive, won't attract many more conventions, and will struggle to meet revenue projections, as has happened with convention hotels in St. Louis and even Overland Park, Kansas.