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Baltimore to approve $305 million convention hotel
Saturday, 17 Aug, 2005
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Baltimore’s City Council Monday approved a publicly financed $305 million convention center hotel.
The 752-room Hilton, next to the downtown Convention Center, slated to open in 2008, is subject to a final vote next month.
The city believes it can make this a financial success, as it did with the creation of Harborplace, the popular downtown retail and tourist complex.
Mayor Martin O’Malley, a supporter of the new project, believes it is necessary to bolster their Convention Center’s poor performance.
Revenue bonds would be issued to finance construction of the hotel, to be paid off from revenue generated through its operation. Optimistic city offices believe the project can eventually generate profits for the city.
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