The Omni San Diego Hotel is being developed by JMI Realty directly across from the recently expanded convention center and will be connected to the planned ballpark by a pedestrian sky bridge, according to JMI Realty officials.
Construction on the hotel, which was originally scheduled to operate under the Westin brand, could resume as early as April with an opening date of April 2004. When complete, it will offer 512 guest rooms plus 37 luxury condominiums that are being built on the top 11 floors of the tower at an additional cost of $40 million.
"John Moores and JMI Realty have remained steadfastly committed to the successful development of this hotel despite repeated ballpark delays," says John Kratzer, president and CEO of JMI Realty. "In the face of tremendous obstacles, including the impact that Sept. 11 has had on the lodging industry, we are pleased to announce that we have held this transaction together by extending our financing commitment and by finding the perfect partner in Omni Hotels."We are now close to the goal line and diligently working toward a successful conclusion."
JMI Realty has had a management contract with Westin since plans for the hotel were unveiled in August 1999. Westin, a subsidiary of Starwood Hotels and Resorts, had planned to invest a substantial amount of equity into the hotel as well a commitment made difficult following the events of Sept. 11.
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