The City of Raleigh has selected Omni Hotel Group to construct a downtown hotel on a previously city-owned parking lot. The bid was granted after careful consideration of the Request for Information submission.
According to the Triangle Business Journal, the project entails building an “upper upscale” hotel with 500 rooms on a one-acre plot near Fayetteville Street, adjacent to the Raleigh Convention Center and across from Martin Marietta Center for Performing Arts.
Preston Hollow Community Capital, in partnership with Omni, will finance the project without any financing contingencies. While no official cost estimate has been disclosed, constructing a 4-5 star hotel with 500 rooms could potentially exceed $200 million.
Renderings of this new establishment showcase an elegant glass tower featuring amenities such as a rooftop pool. Additionally, there will be five dining options available within the hotel premises along with two ballrooms and various meeting spaces. A spa will also be incorporated into this luxurious development.
This exciting news was first reported by Connect CRE – showcasing how Omni successfully secured their bid for Raleigh’s convention center hotel project.
