Officials with The National Western Stock Show have floated a plan to relocate their big operation to a site near the proposed Gaylord Entertainment resort outside Denver. The proposal is not without its critics but looks set to help Nashville-based Gaylord snag up to $300 million in development incentives for its fifth resort.
The Jefferies investor conference presentation this morning by Gaylord Entertainment Chairman and CEO Colin Reed included a first rendering of the company's planned 1,500-room resort outside Denver. For more on those $800 million plans and Reed's fulll presentation, click here. And for the first rumblings from Denver tourism officials who may lose business to Gaylord, click here.
Gaylord Entertainment Chairman and CEO Colin Reed is in Colorado this morning prepping for a news conference where he and local government officials will discuss "significant steps in the company's progress toward opening a Colorado property." The Nashville-based company two months ago said it was in talks about partnering with the National Western Stock Show on a project that could be worth $1 billion.
Gaylord Entertainment executives have for more than a year said they are entertaining ideas and offers from various municipalities around the country to build their fifth resort. None of those talks had made it out into the open until this morning, when The Denver Post reported that the Nashville-based company may team with the National Western Stock Show to build a $1 billion entertainment complex in the northeast suburbs of Denver.
National Western officials are determined to keep the Denver address, but Gaylord does not want to be within the city and county boundary, said Jack Finlaw, chief of staff for Mayor Guillermo "Bill" Vidal.
"Denver doesn't have the ability to provide them with the kind of public financing for hotel development that they need," Finlaw said. "Aurora would provide Gaylord with TIF (tax-increment financing) and other public financing they would need."
Meanwhile, the city and county of Denver is willing to invest a maximum of $150 million in the new National Western Complex. How that deal would be structured has not been determined.