LAS VEGAS
Plans for adding space at the Las Vegas Convention Center are moving forward after the Southern Nevada Tourism Infrastructure Committee approved a proposal to raise hotel taxes to fund the $1.4 billion project.
After months of analysis and debate, in a unanimous vote, the Southern Nevada Tourism Infrastructure Committee backed a proposal to add 600,000 square feet to the current 3.2 million square feet, as well as create a seven-member oversight panel to supervise the development.
According to the approved recommendation, the work would be funded by a 0.5% increase in the county room tax and by capping the local government collection allowance from room tax revenues at $25 million annually. The recommendation will head to the governor and could take effect if approved by state legislators.
The Las Vegas Convention and Visitors Authority said an expansion of its convention facilities is needed in order to meet demand from convention groups and to stay competitive with other cities. The authority paid more than $182 million in 2015 for the site of the former Riviera hotel, located just across the street on Paradise Road.
Much of the Riviera property has already been torn down, including one hotel tower in order to use the land for outdoor exhibit space. However, the authority wants to build an expansion of the convention center on that site before eventually renovating the original facility.
MGM Resorts International President Bill Hornbuckle, a member of the committee, released a statement after the vote calling the convention center project a “critical part of the effort to maintain Las Vegas as the top [meetings and event] destination nationally and internationally.”
“We must invest in the future if we are to protect the jobs and revenue that come with this vital industry,” Hornbuckle said. “We applaud the committee for recognizing the importance of this job-creating industry and urge the legislature to make the convention center a priority."
