Date: July 2018
Location: Scissortail Park, Oklahoma City Convention Center, USA
Name: Oklahoma City Convention Center Hotel
No. of Keys: 605
Seller: The site is currently home to an OGE Energy Corp. data centre
Buyer: Omni Hotels and Resorts has filed a building permit to start construction on a hotel that will adjoin a new convention center already under construction in the area known as Core to Shore.
Construction of the $235.5 million hotel at 400 S Robinson Ave. is set to start in September with an estimated completion in two years.
With construction set to start on the hotel, the only component of the Core to Shore plan still under design is an 850-space garage that will serve the hotel, convention center and Scissortail Park.
That site, currently home to an OGE Energy Corp. data center, is set to be turned over to the city next March. A 241-unit apartment tower with retail is set to be built wrapping around the garage.
The newest designs show a coffee shop, steakhouse, sports bar and other venues will line the Robinson Avenue side of the hotel with a view looking out at Scissortail Park.
The deal with Omni to build, own and operate the hotel was approved last year by the Oklahoma City Council after they were told by consultants and experts in the convention business a headquarters hotel is necessary to the success of the $288 million convention center.
Oklahoma City is to provide $85.4 million in financing for the hotel, while Omni is investing $150.1 million
Price per Key: US$389,256
THPT Comment: Omni, headed up by Peter Strebel, President appear to have been quiet on the development front of late.. although they have eschewed the asset-light approach of many of their competitor-set, the company currently owns or has an interest in 42 of its properties — more than 80% of its branded locations.
First Seen: Hotel Online