The city-owned Omni Hotel in Dallas opened its doors on November 11, 2011, and revenue numbers from the first year of business are higher than expected.
"We will be up about $3.5 million in room revenue. We will be up about $7.5 million in food and beverage revenue, said Larry Magor the managing director of the hotel. "So overall, we are actually exceeding our projections by $11 million."
This is good news for Dallas taxpayers who will be left paying off debt if the city-owned hotel doesn't meet revenue expectations.
So far, good business for the Omni is proving to be good business for Dallas neighbors.
Joshua Florence owns City Tavern and said the Omni's success is music to his ears.
"We have seen hard cash money in to our restaurant and bar since the Omni has come on line," Florence said. "This has been a great year for us, and I attribute some of it to the Omni being here."
Florence has noticed more conventions in town and said he is not surprised by the first year numbers.
"I'm excited they surpassed their numbers. It's a good thing for the whole city," he said.
Sunday, the hotel will say "thank you" to the city of Dallas for a spectacular performance. They are offering discounts including discounted rooms for $111 and $1.11 appetizers and deserts.