New Orleans Convention Center Restructures Hotel Deal | New Orleans News

New Orleans’ Convention Center board just flipped the script on a major hotel deal, approving a $120 million upfront payment to developers instead of the original 45-year tax plan worth nearly $837 million. The move comes after state lawmakers, led by Senate President Cameron Henry, raised red flags about the old agreement’s fairness and viability. With groundbreaking targeted for fall 2024 and construction needing to start soon, this pivot aims to keep the 1,000-room Omni hotel on track — critical for New Orleans to stay competitive in the convention market. The State Bond Commission must now approve the new plan, and watchdogs say it could actually boost public revenue long-term. But hurdles remain before shovels hit the ground. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8957a22a8673edd5