City Looks To Extend Relationship With Coast Wenatchee Hotel
Wenatchee City leaders say they look forward to continuing their partnership with Coast Wenatchee Center Hotel for years to come.
Last night, the city council approved an amended agreement between the city and Coast Wenatchee through the end of 2026.
Under the terms of the agreement, Coast Wenatchee would get a 10-year extension if the hotel moves forward with a $7-million renovation project.
"Anything 5 (million) or under would actually be a five year extension. So it's really predicated upon how much money they invest in the hotel." City Executive Services Director Laura Gloria said.
After the term ends, Coast has the ability to do another five-year extension that is mutually agreed upon by the city.
Secondly, Coast Wenatchee has an original agreement to pay the city an 8% commission after the first $750,000 of gross convention center revenue is reached during construction of the convention center project.
The terms of the amended agreement say the city will not collect a commission during the construction of the convention center expansion due to the likelihood of fewer bookings.
"There'll be contractors on site. It won't be the greatest experience for any events that are there and so we anticipate that bookings will be reduced." Gloria said.
After the project is finished, the $750,000 minimum is removed, and the city would start collecting the 8% as soon as the money started coming in.