Raleigh’s throwing $300 million at a 27-story Omni hotel on Fayetteville Street, banking on 553 rooms to transform downtown into convention central. The city’s betting big with $75 million in tourist tax money for this 2027 project. They’re promising 60,000 square feet of meeting space, rooftop pools, and a spa—because nothing says “serious business conference” like Instagram-worthy amenities. Construction starts 2026. The real question is whether this gamble pays off or becomes another expensive downtown monument.
Downtown Raleigh is getting a shiny new toy. A massive 27-story Omni Hotel is coming to Fayetteville Street, and the city’s betting $300 million it’ll transform the area into a convention powerhouse. The 553-room tower will sit on a city-owned parking lot, right next to the Raleigh Convention Center.
The numbers are big. Really big. Over 60,000 square feet of meeting space, two ballrooms, and enough rooms to house a small village. There’s a rooftop pool for Instagram shots and a Mokara Spa for those who need to recover from whatever happens at conventions. Visual renderings released by the City of Raleigh show the tower will dominate the downtown skyline.
60,000 square feet of meeting space, two ballrooms, and Instagram-worthy rooftop views
Multiple restaurants, a cafe, and a sports bar round out the amenities because apparently convention-goers need options. The hotel is expected to create a significant economic impact by attracting larger conferences and conventions that currently can’t book enough rooms in Raleigh.
City officials approved negotiations in September 2023, and they’re throwing serious money at this thing. The Omni could snag up to $75 million from an interlocal fund fed by hospitality taxes. That’s taxpayer money, sort of, but from tourists who pay hotel taxes. Clever.
The location couldn’t be more prime if they tried. It’s across from the Martin Marietta Center for the Performing Arts, at the end of Fayetteville Street, on over an acre of downtown real estate. The three-story parking garage is a nice touch for a city where everyone drives everywhere.
Partners include Omni Hotels & Resorts, obviously, plus Preston Hollow Community Capital and Provident Resources Group. The city and Wake County are stakeholders, which means meetings. Lots of meetings.
A public hearing is required for the fund allocation because that’s how government works.
Construction might start in 2026, with doors opening in 2027. That’s if everything goes smoothly, which it never does. The whole project is meant to enhance tourism, support the convention center’s expansion, and create jobs downtown.
Raleigh wants to compete with other regional cities for big conventions and business events. Whether a fancy hotel with a pool and spa will do the trick remains to be seen. But they’re sure willing to bet $300 million on it.