HomeMy WebLinkAboutIR 9642 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9642
To the Mayor and Members of the City Council June 10, 2014
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SUBJECT: UPDATE ON MARKET AND FEASIBILITY ANALYSIS OF
rF DOWNTOWN HOSPITALITY MARKET
Hunden Strategic Partners (HSP) was retained by the City of Fort Worth and the Fort Worth
Convention and Visitors Bureau to determine the future needs and opportunities for the
convention and events facilities package for the community. The study includes the Fort Worth
Convention Center (FWCC) as well as a proposed arena. The study is still in the development
phase and is expected to be presented to the Fort Worth City Council on July 15, 2014.
The briefing scheduled for July 15th is expected to contain information relating to increasing
market opportunities and recommendations for improved and expanded convention and event
space for Fort Worth. Preliminarily, HSP has determined the following:
• The arena and annex portions of the FWCC are old (40+ years), obsolete and should be
replaced by state of the art facilities.
• The FWCC and downtown have prospered due to the addition of the last
expansion/renovation, the Omni and other downtown hotel improvements. The continued
development of Sundance Square has improved the city's competitiveness as well.
• Event planners and promoters love the Fort Worth experience, but cannot be
accommodated by existing facilities, due to space or quality issues.
• The past additions of space at the FWCC, plus hotel improvements and additions have
been absorbed and the market continues to expand. The hospitality package is again
hamstrung by a lack of high-quality exhibit, ballroom and meeting room space, as well as
large, walkable hotel room blocks.
• Fort Worth, as a market, can and should support its own full-sized concert, event and
sports multi-purpose arena. It is one of the only markets of its size without such a facility.
• HSP recommends the development of a new state-of-the-art multi-purpose arena to allow
room for the replacement of the obsolete portions of the FWCC with high-quality, flexible
spaces that include a net expansion of exhibit space, a second, large ballroom and new
meeting rooms.
• HSP recommends the addition of a second headquarters hotel adjacent to the FWCC and
the potential expansion of the Omni.
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9642
To the Mayor and Members of the City Council June 10, 2014
`�` Page 2 of 2
r
SUBJECT: UPDATE ON MARKET AND FEASIBILITY ANALYSIS OF
rF DOWNTOWN HOSPITALITY MARKET
With these investments, Fort Worth can "right-size" its event infrastructure to keep up with its
booming population of approximately 2 million in the area, as well as continue to attract and retain
the economic, fiscal and job impacts generated by its events and hospitality package.
If you have any questions, please contact Kirk Slaughter, Director of Public Events at 817-392-
2501.
Tom Higgins
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS