City Restructures Omni Convention Center Hotel Deal
City of RaleighCity · Raleigh, NC- Disclosed value
- City investment of $75,000,000 plus property sale at approximately $419.90 per square foot (about 46,317 square feet) and $1.00/year lease for specified condominium units
- From agenda
- Document date
- Jul 1, 2025
The 30-second brief
Raleigh is restructuring its convention center hotel deal with Omni Hotels and Resorts, shifting from a 99‑year ground lease to a land sale at fair market value and a $75 million City investment in public components. The revised agreement includes a 40‑year lease of City-owned meeting space to Omni for $1 per year, a completion guaranty, and a 50‑year room‑block commitment to support convention business.
Omni Hotels & Resorts holds this facilities contract with City of Raleigh. Its other public contracts on record include work for Missouri State University-Springfield and Gasconade County R-I School District.
Term as filed: Approximately 40-year lease of hotel meeting space, parking, and public-serving amenities; room-block agreement for 50 years.
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Contract details
- Contract type
- Facilities
- Amount
- City investment of $75,000,000 plus property sale at approximately $419.90 per square foot (about 46,317 square feet) and $1.00/year lease for specified condominium units
- Document date
- July 1, 2025
- Term
- Approximately 40-year lease of hotel meeting space, parking, and public-serving amenities; room-block agreement for 50 years
- Vendor
- Omni Hotels & Resorts
- Agency
- City of Raleigh
- Source document
- City of Raleigh City Council Regular Meeting Agenda July 2025 (Agenda)
Omni Hotels & Resorts's other public contracts
More City of Raleigh contracts
Questions about this contract
Who was awarded the facilities contract by City of Raleigh?
Omni Hotels & Resorts was awarded this facilities contract by City of Raleigh, as recorded on July 1, 2025. The contract value is City investment of $75,000,000 plus property sale at approximately $419.90 per square foot (about 46,317 square feet) and $1.00/year lease for specified condominium units.
How much is the Omni Hotels & Resorts contract with City of Raleigh worth?
The Omni Hotels & Resorts contract with City of Raleigh is valued at City investment of $75,000,000 plus property sale at approximately $419.90 per square foot (about 46,317 square feet) and $1.00/year lease for specified condominium units, covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a agenda record.
Where was this contract approved?
This contract appears in City of Raleigh City Council Regular Meeting Agenda July 2025 (Agenda), dated July 1, 2025 from City of Raleigh. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Omni Hotels & Resorts hold?
Omni Hotels & Resorts may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Raleigh currently buying?
Explore City of Raleigh's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.