VIEW REPORT PDF.pdf

BGR expresses concerns about a consultant's analysis of a proposed 1,200-room hotel attached to the New Orleans Convention Center, specifically regarding the value of public contributions and the hotel's economic and fiscal impacts. BGR's concerns include:

The consultant's presentation underestimates the value of public contributions by $100 million due to an overly high discount rate.
The consultant excludes a free land lease worth $28.9 million from the public contributions.
The consultant's estimate of the hotel's value in 40 years is four times higher than the development team's estimate.
The consultant's comparison to other hotel projects is questionable due to differences in size and discount rates.
The consultant did not evaluate the proposed deal on its own terms or provide sufficient data to support its conclusions about economic and fiscal impacts.
The consultant's projection of fiscal benefits does not account for tax rebates and property tax exemptions.
* The consultant does not assess the potential impact on competing hotels.

BGR requests responses to enclosed questions and a copy of the consultant's detailed report to address these concerns.