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City Council Approves Convention Center Hotel Financing

By Eric Richardson
Published: Saturday, October 01, 2005, at 12:31PM

City Council yesterday agreed to the subsidy plan put together for the convention center hotel to be part of the LA Live! project. The LA Times covers that story today, writing that the Bonaventure plans to keep fighting.

The Bonaventure's owners plan to pursue an existing lawsuit against the city challenging the deal as well as take the matter to the ballot, said Christopher Sutton, an attorney for the hotel.

"There is going to be a referendum or an initiative on this, one way or the other," Sutton said. "The voters aren't going to approve this."

Over in the Downtown News we read that the Bonaventure's tact isn't the one being taken by other Downtown hotels.

"It will only make the other hotels better," [Wilshire Grand Director of Sales Mike] Ouimet said. "That has been the drawback for our ability to compete for conventions with other cities. Only one hotel has spoken out against it."

The Wilshire Grand is spending $40mil to renovate and upgrade their facility. Unlike Sutton, I think there's enough muscle behind this -- especially AEG -- to keep on track. Hopefully the voters are smarter than Sutton gives them credit for.

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Topic:
L.A. Live

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