Convention Center District Development

Headquarters Hotel


Why a Hotel?

The new Convention Center Headquarters Hotel is a core element of the Ernest N. Morial New Orleans Exhibition Hall Authority’s future strategy for the betterment of New Orleans and is anticipated to generate a net economic impact of more than $282 million annually, create more than 1,900 new jobs, and be the catalyst for future development of vacant land upriver of the Convention Center.

Strategically located on the upriver side of the New Orleans Ernest N. Morial Convention Center, the new headquarters hotel will stimulate needed economic development on the undeveloped state-owned riverfront acreage, that will include new retail, dining, entertainment, residential areas and more, while making New Orleans competitive with other cities that have already undertaken similar investments.

 


Timeline

October 15 – Finance and Audit Committee Presentation on Project Status – Complete!

October 21 – Public Hearing – Complete!

Q4 2019 – Detailed Design to Commence

Q2 2020 – Commercial Close

2020 – Design Complete

2021 – Financial Close and Construction Start

Q1 2024 (Anticipated) – Hotel Opens


Local Benefits

The New Orleans Ernest N. Morial Convention Center Headquarters Hotel will be an important driver of economic activity and secure the City of New Orleans’ position as a leading convention destination. That means more people staying near our world-famous restaurants, attractions, and landmarks, which means more money flowing through the local economy.

Projected Economic and Community Impact:

  • $282M Annual Economic Impact
  • 1,900 New Jobs
  • 172,000 New Hotel Room Nights
  • $18M New Tax Revenue for the City of New Orleans
  • $3-5M Annual Property Taxes for New Orleans
  • $6M New State Taxes

Gallery

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Frequently Asked Questions

Q: Why is the hotel project so important?

A: This project is important on so many levels.

First and foremost as a job, revenue and tax generator of unmatched value for the city and state. No other project currently underway or proposed will have the powerful economic impact of our hotel. Second, New Orleans is woefully short of the number and type of hotel rooms necessary to continue to attract and grow major conventions and world class events like Super Bowls, Essence Festivals, NBA All Star Games and NCAA Final Fours that continue to fuel the local economy. These reasons very clearly point to why our plans are so important to the city and state.

Q: Why are public incentives necessary to develop the hotel?

A: The cost to construct and operate a hotel of the size and scope necessary to induce new demand will not generate enough revenues to finance without public support. Underwriting with some level of limited public support is the model that has proven to be a wise investment by no less than 10 other cities that compete against New Orleans.

Q: Why do some people say the proposed hotel deal is just a give-away to the developers?

A: First of all, no agreement has been reached with the developers. Formal negotiations have not yet begun. Financing a project of the size and scope of the hotel is very complex but not unlike other economic development projects that create jobs and generate new taxes that governments support with a variety of incentives. Without public support, the hotel could not happen. The ultimate deal will minimize or eliminate any risk to the state or city and when paid off the asset (hotel) will be owned by the Authority.

Q: What is the Governor’s position on the hotel project?

A: The Governor fully supports the project but, as expected, wants the best deal for the state. The Convention Center is an asset of the State and will have a greater impact for the State with the hotel and the City of New Orleans reaping most of the benefits.

 


News

Read the latest on the Headquarters Hotel Project by clicking this link


Monday, October 21, 2019 – New Convention Center Headquarters Hotel for New Orleans PowerPoint Presentation


 



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