SALT LAKE CITY — The Governor’s Office of Economic Development Board voted Tuesday to approve the development of a new hotel convention center in Salt Lake City.
The hotel will directly connect to the Salt Palace Convention Center, on 200 South West Temple.
A press release sent by John Portman & Associates, the architectural design firm that will design the hotel, said that Governor’s Office of Economic Development Board members voted Tuesday to approve the new hotel.
The hotel is estimated to cost $337 million and will be built on land that doesn’t currently generate tax revenue, the press release stated. It is expected to be 680,000 square feet and will have 700 to 750 rooms.
“We are pleased to partner with the County, and DDRM, to build this convention hotel in Salt Lake City,” said Ambrish Baisiwala, CEO of Portman Holdings. “We have found Utah, Salt Lake County, and Salt Lake City to be both business-friendly and a strong destination market; with an excellent airport, infrastructure, and leisure activities in proximity to the Salt Palace Convention Center.”
The Board authorizes post-performance tax incentives for the development of the hotel, which will have ballrooms and a meeting space.
“Once fully operating, the hotel is anticipated to increase direct visitor spending in Utah by up to $45 million per year,” the press release stated.
“Portman Holdings and DDRM expect to break ground on the new hotel in Fall 2019 and open in Spring 2022,” the press release stated. “The hotel operator will be announced early 2019.”