New downtown hotel will boost convention business
The downtown Columbus skyline will have a new addition with the announcement of a financing agreement for a new 500-room convention headquarters hotel located on North High Street. The new full-service convention hotel is expected to open in 2012 and include 54 suites and 30,650 square feet of meeting space at a total cost of $160 million.
The hotel development was made possible through collaboration among the Franklin County Commissioners, Franklin County Convention Facilities Authority, City of Columbus and Nationwide Realty Investors, Inc.
While the 1.7 million-square-foot Greater Columbus Convention Center has capacity to increase the number and size of conventions, meetings and tradeshows it holds, the inventory of full-service convention-quality hotel rooms near the center has made expanding business a challenge.
“A new full-service convention hotel will support Franklin County and the City of Columbus’ current investment in our convention facilities,” said Paul Astleford, Experience Columbus president and CEO. “Besides giving us the opportunity to expand our local, regional and national convention reach, it will also help us to retain annual business that is outgrowing our community. With multiple headquarter hotel options, we’ll also be able to host more than one large convention or tradeshow at the same time.
“We appreciate the community collaboration that has moved this important initiative forward. The return on investment for Greater Columbus and the surrounding communities will prove significant in the years to come.”
The new hotel site is located on the west side of High Street between the Greater Columbus Convention Center and Nationwide Arena. Adjacent to the site is a 900-car parking garage also owned by the Franklin County Convention Facilities Authority.
“Currently, Columbus can accommodate only 65 percent of our target market’s minimum headquarter hotel room requirements,” said Franklin County Convention Facilities Authority Executive Director Bill Jennison. “These large regional and national events require 1,000 to 3,500 peak night room blocks. A new 500-room convention hotel will enable the Greater Columbus Convention Center to compete for 92 percent of our target market and increase utilization of the convention center.”
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