December 08, 2004
Deal reached for $1.2 bln Javits Center expansion
The $1.2 billion expansion of the Jacob J. Javits Center has been tentatively approved by state lawmakers and Gov. George Pataki, the Daily News reports. Included in the plan is a 1,500-room hotel and ballroom. It would be financed by the city ($350 million,) the state ($350 million,) and a new $1.50 hotel surcharge tax ($500 million.) You think the existing hoteliers like the fact their end rates go up to finance new competition? Pataki said the Javits, which was a "den of corruption" just a decade ago, will blossom into "a gleaming beacon for tourists and one of the nation's top draws for convention business." (Link found via Brownstoner.)
December 8, 2004 10:40 AM in Hotelology
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