Mayor McAdams says the company was asking for too much money in the form of public grants and cash advances.
“And so we’ve decided to terminate our negotiations to Omni and go back out to the market and look for another hotel developer who can work with us as a true partner to get this done.”
McAdams says it’s best to avoid signing a deal that would be bad for taxpayers. He says a new hotel is vital to attract and retain conventions like the massive Outdoor Retailers Convention.
“The Outdoor Retailers is a classic example that brings immense economic benefits to the people of the Salt Lake Valley,” says McAdams.
The OR’s commitment to Utah ends next year. McAdams says the county hopes to have a new hotel proposal ready to go within 30 days.