A proposal to subsidize a 1,000-room hotel alongside the convention center in downtown Minneapolis is being met with some opposition from owners of existing hotels, KSTP reports. They're concerned it will hurt their business and decrease room rates.
Backers of the more than $300 million project say the city needs it to compete for national conventions and events. A feasibility study released last month by the city of Minneapolis suggested 41 percent or $125 million of the cost would need to come from public subsides, Twin Cities Business reported.
Click here, for the full report conducted by Minneapolis-based Convention, Sports & Leisure International and Hospitality Valuation Services Consulting & Valuation.