The City of Denver plans to use public financing to construct a convention center hotel now that it has cancelled plans for a 1,100-room Hyatt hotel. The city planned to work with Denver developer Bruce Berger on the project, but he was unable to obtain the financing necessary to guarantee a completion date for the $285 million hotel.
The city now plans to finance a convention center hotel by issuing bonds. A 300,000 sq. ft. expansion of the Colorado Convention Center is under way, and the city hopes to open hotel soon after the project is completed in December 2004.