WILMINGTON, NC (NEWS RELEASE) - The City of Wilmington has received word that the latest potential developer for a convention center hotel is being stymied from making a deal by the nation’s economic downturn.
After the city requested that the John Q. Hammons Hotels and Resorts company begin negotiations for a formal agreement on the hotel, the Hammons company responded with a letter citing economic conditions and prior financial commitments as reasons for not proceeding.
In the coming weeks, the city will assess the situation and provide a recommendation to City Council about next steps.
The Wilmington Convention Center is scheduled to open this November. The construction and operation of the convention center is funded by a specially designated 3 percent hotel room tax.