Convention Center Authority Approves Omni, Hall of Fame Deal

Convention Center Authority Approves Omni, Hall of Fame Deal

Omni Will Build Expansion to Integrate New Hotel with Country Music Hall of Fame

NASHVILLE, Tenn., Dec. 17, 2010 /PRNewswire/ -- The Convention Center Authority of Metropolitan Nashville and Davidson County today approved a development plan authorizing Omni Hotels & Resorts to execute the expansion of the Country Music Hall of Fame and integration of the museum into the planned headquarters hotel for the Music City Center.

The agreement engages Omni as contractor to build the shell of the Hall of Fame expansion as part of the overall hotel construction, while Hall of Fame officials will be responsible for the build out and fixtures of the additional space. The two buildings will be fully connected, so hotel guests will have a fluid experience between the two entities.

"The Omni Nashville Hotel will be unlike any convention headquarters hotel in the country," Nashville Mayor Karl Dean said. "The hotel will reflect our city's unique identity as Music City, and the connection to the Country Music Hall of Fame and Museum will provide hotel guests and convention goers with an experience that only Nashville can offer. The Music City Center by itself will provide a tremendous boost to our tourism industry and downtown. The addition of the hotel and the Hall of Fame will completely energize Fifth Avenue, and we are excited about the growth South of Broadway that is sure to follow."

Through the terms of the agreement, Omni is paying for the cost of construction but will use economic development incentives including Tax Increment Financing ("TIF") to cover infrastructure costs including land, site development, parking, and LEED certification. The TIF funds will be provided by MDHA, as the property is in an area eligible for such redevelopment funds.

"We are thrilled to be creating a seamless environment between the hotel and the Country Music Hall of Fame," said Mike Deitemeyer, president of Omni Hotels & Resort. "It will create a one-of-a-kind, authentic Music City experience to further propel Nashville as a leading destination for conventions and drive increased visits to the area."

Costs of the expansion and integration plan and TIF funds provided for such are estimated to be $34 million. As part of the public/private partnership, the Convention Center Authority will own the expanded portion of the Hall of Fame, which will have a 60-year lease on the property at an average annual fee of $500,000. The Hall of Fame will have the right to buy the expansion area upon expiration of the lease.

"Each year, we provide thousands of visitors an authentic Nashville experience that is both entertaining and educational," said Museum Board Chair Steve Turner. "This unique public-private partnership allows us to build on our success and secure our future. The integration of the Music City Center, the Omni Nashville Hotel and our Museum will result in a campus greater than the sum of its parts."

In August, Mayor Karl Dean announced Omni would build an 800-room hotel at the corner of 5th Avenue and Korean Veterans Boulevard to serve as the headquarters hotel for the Music City Center. The $250 million hotel will also feature 80,000 square feet of meeting and event space to support overflow from the new convention center.

Omni officials have committed to 20 percent diversity business participation and to spend at least 20 percent of the project's construction costs with local businesses.

The Music City Center, Omni Nashville Hotel, and the Country Music Hall of Fame expansion are all scheduled to open within months of each other in 2013.

About the Music City Center

The Music City Center, Nashville's new convention center will feature 1.2 million square feet total, a 350,000 square foot exhibit hall, a 57,000 square foot ballroom, and parking for 1,800 cars, while achieving LEED Silver certification. It is designed to be a gathering spot for residents and the hundreds of thousands of visitors seeing Nashville for the first time, just steps from the Ryman Auditorium and the Broadway honky tonks, the musical venues that have launched thousands of careers and help generate the city's nickname. The Metropolitan Council of Nashville and Davidson County voted to approve the construction project in January 2010. Now under construction on a 19-acre site in downtown, the Music City Center is slated to open in 2013.

About Omni Hotels & Resorts

Omni Hotels & Resorts creates genuine, authentic guest experiences that take guests on "A Total Departure" to 47 distinct luxury hotels and resorts in leading business gateways and leisure destinations across North America. From exceptional golf and spa retreats to dynamic business settings, each Omni showcases the local flavor of the destination while featuring four-diamond services, signature restaurants, Wi-Fi connectivity and unique wellness options. Known for its award-winning, personalized service, Omni leaves a lasting impression with every customer interaction, with a heightened level of recognition and rewards delivered through its Select Guest loyalty program and the company's "Power of One" associate empowerment program. The brand is frequently recognized by top consumer research organizations such as J.D. Power and Associates, which ranked Omni as "Highest in Guest Satisfaction Among Upscale Hotel Chains" in its 2010 North America Hotel Guest Satisfaction Index Study(SM).

To get additional information or book accommodations, visit omnihotels.com or call 1-800-The-Omni.

SOURCE Omni Hotels & Resorts

Omni Hotels & Resorts

CONTACT: Holly McCall, +1-615-880-1464, cell, +1-615-491-1843, holly.mccall@nashvillemcc.com, or Caryn Kboudi, +1-972-871-5625, +1-214-636-1182, ckboudi@omnihotels.com

Web Site: http://www.omnihotels.com

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