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Article: Rhode Island Convention Center Authority Looks to Westin Expansion.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 27, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Sep. 28 -- PROVIDENCE, R.I. -- As it considers the future of the Westin Hotel, its main source of income, the Rhode Island Convention Center Authority is reporting strong revenue growth for the year that ended June 30.
The authority, which owns the Convention Center and its attached hotel and parking garages, said income from operations grew to $5 million, a 45 percent increase from the previous year. The authority, however, still required a hefty taxpayer subsidy of $18.3 million to cover the cost of bonds it issued to finance the project.
The latest financial report from the authority is further evidence of ...