Hyatt won the recommendation of the Portland Metro Council’s staff to build a 600-room hotel next to the city’s convention center, according to reports.
According to a report from Oregon Public Broadcasting, the Metro Council’s staff presented the recommendation during a council meeting on Tuesday and a vote on the proposal should come next week.
Hyatt beat out Sheraton’s proposal with four options ranging in price from $157 million to $200 million, the report said.
The hotel plan is a joint plan between Metro, Multnomah County, the city of Portland and the Portland Development Commission. The plan has been debated for more than 20 years.
The new proposal scales down the amount of public money involved in building the hotel compared to past pitches.
The request for proposals that generated the Hyatt and Sheraton proposals called for the private development of the hotel with minimal public investment, according to a staff report.