City HallSaturday, November 7
The City Council approved a tax break for the $625 million Omni hotel
The New in New Orleans team
If you're waiting on the Omni hotel to break ground, it just got closer. The City Council approved a payment in lieu of taxes agreement Thursday for the $625 million headquarters hotel near the Convention Center, one of the final hurdles before building. A Convention Center spokesperson said construction could begin before the end of the year.
Under the 45-year deal, Omni pays most of its property tax at a rate set by averaging per-room tax bills at five large downtown hotels. Council Vice President Matthew Willard, who sponsored the resolution, called it “a major economic win for New Orleans.”
The planned Omni hotel will have 1,006 rooms and cost $625 million
- $625 million
- planned cost of the Omni headquarters hotel
- 1,006
- guest rooms in the 27-story tower
- 45 years
- length of the PILOT agreement
Sources: NOLA.com, New Orleans CityBusiness
- Annual local tax revenue: $8 million, including $5 million to the city
- Jobs: about 2,500 construction and 1,400 permanent
- Meeting and event space: approximately 100,000 square feet
The Bureau of Governmental Research, or BGR, a nonprofit watchdog, recommended in December capping the agreement at 20 years. President Rebecca Mowbray said BGR is concerned about “any potential abatement of taxes beyond what is necessary.” WWLTV reports the hotel is expected to open by 2030.
The Omni hotel went from a partnership to a tax deal in eight years
- 2018The Convention Center partners with Omni to develop the hotel.
- Aug. 2026Convention Center board agrees to $120 million up front, plus $80 million.
- Nov. 5The City Council approves the PILOT agreement.
- Dec. 2026Construction could begin before the end of the year.
- 2030The hotel is expected to open.
Sources: NOLA.com, New Orleans CityBusiness, WWLTV.com
Sources: NOLA.com, New Orleans CityBusiness, WWLTV.com