Houston's convention center hotel gets final go-ahead

The Houston Business Journal reports that the necessary agreements have been finalized on the city's second convention center hotel, which will be next to the George R. Brown Convention Center, and work will soon commence.

Houston-based Morris Architects unveiled renderings of the $335-million, 1,000-room Marriott Marquis late last year. Houston will be the sixth city in the U.S. with a Marriott Marquis.

The city of Houston, Houston First Corp. and Houston-based Rida Development Corp., the hotel’s developer, said the development agreement between Houston First and Rida has been finalized.

Houston First’s financing — which will fund the acquisition of the hotel site, construction of an adjacent parking garage and other improvements to the convention district — is also complete, and Houston First has been authorized to transfer the hotel site's land to Rida.

The project will create more than 1,800 construction jobs and add 800 permanent jobs, according to Houston First’s Tuesday statement.

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With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.