City leaders signed off on creating a Tourism Improvement District, which would partner with hotels in Austin to generate millions.
"The revenue that would have eventually made it to the city was going to be dramatically decreased because part of that would have gone to the convention center," Alter said."But if you have no convention center, you have no revenue."
However, 60% of hotels across Austin with more than 100 beds would need to be on board and review the plan before it gets final approval. Fairmont General Manager, Nenad Praporski said he fully supports the partnership and calls it a"win-win" for all. "We have the ability to roll out that program in due time and in time ahead of the [Austin Convention Center] closure so that we don't feel any effect of the closure of the center or minimize it at the very least," Praporski said.
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