DENVER (AP) — A new report says a 1,500-room hotel and conference center that Gaylord Entertainment Co. wants to build in Aurora could cost the Denver hotel market $186 million in visitor spending over four years.
The report by Hospitality Real Estate Counselors also estimates downtown Denver would lose about $95 million in visitor spending and $7 million in tax revenue in that time.
The report commissioned by Visit Denver, the city’s convention and visitor’s bureau, was presented Tuesday to members of the Denver City Council.
Nashville, Tenn.-based Gaylord has secured $300 million in incentives from Aurora for the $800 million project near Denver International Airport and is seeking $91.5 million in state subsidies. Gaylord has said the hotel and conference center could create about 1,900 construction jobs and about 1,800 permanent jobs.
The company has released its own report showing the project would boost the region’s appeal among meeting planners nationwide.
The Visit Denver report that was presented Tuesday follows one Visit Denver released earlier regarding the National Western Stock Show Rodeo’s plans to look at moving from Denver to a site in Aurora next to the Gaylord hotel. That report said relocating the stock show would cost Denver $31.3 million a year in off-site visitor spending, plus tax revenue.
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Information from: The Denver Post, http://www.denverpost.com
Article source: http://www.canadianbusiness.com/article/50221--report-gaylord-hotel-could-cost-denver-millions
