CINCINNATI (FOX19) - The owner of the Millennium in downtown Cincinnati confirmed Monday afternoon that they have entered into a purchase and sale agreement with a local development company for the potential sale of the hotel.
Millennium Hotels and Resorts say in a statement that the sale is contingent upon certain conditions, including the purchasers completion of its due diligence.
“In the meantime, the hotel is fully operational and will continue to serve visitors with a safe, clean and affordable stay in downtown Cincinnati," the statement read.
This follows an announcement by the Cincinnati Center City Development Corp. (3CDC) Monday morning to pause on issuing a Request for Proposals for a developer for a new convention center hotel.
“3CDC is committed to being a partner with the Convention Center, CVB, City, and County, to address the urgent need for a first-class convention center hotel,” said Steve Leeper, President and CEO of 3CDC. “The Convention Center, and the tourism and hotel business it supports, has a significant impact on the Cincinnati region’s economy, and 3CDC believes the development of a new, upscale convention Center Hotel is essential to boost convention attendance and generate new revenue for the region.”
Hamilton County officials say they concur with the decision by 3CDC to pause the RFP process.
“Hamilton County is completed committed to attracting and building a new world-class convention center hotel. A private developer now has the Millennium Hotel under conditional contract. This is a recent development that has never occurred in the long history of the the city and county working on the headquarter hotel issue,” said Jeff Aluotto, Hamilton County Administrator.
Hamilton County Commissioner Denise Driehaus says they are weighing all their options, whether that be a new hotel on property just south of the Duke Energy Convention Center on Fifth Street or new developers to the existing Millennium Hotel.
“First of all, could the market bear two hotels? As the Millennium sits right now, the answer is yes, because we need a top flag, class A hotel for the convention center because we’re losing conventions because the hotel is not what it needs to be,” Driehaus said.
Back in March, Cincinnati Mayor John Cranley said he was considering filing a lawsuit against the Millennium Hotel.
According to our media partners at the Cincinnati Enquirer, Mayor Cranley consulted with Hamilton County Prosecutor Joe Deters about filing a lawsuit that would declare the hotel at 150 W. Fifth St. a nuisance property, a spokeswoman for Deters’ office confirmed.
So far, no action has been taken.