“For two decades, American cities have used public dollars to build convention center space—far more than demand warranted. The result has been a gigantic nationwide surplus of empty meeting facilities, struggling convention centers, and vacant hotel rooms. Given the glut, you’d think that cities would stop. Instead, many are spending hundreds of millions of dollars to expand convention centers and open yet more dazzling hotels, arguing that whatever convention business remains will flow to the places with the fanciest amenities. If this dubious rationale proves wrong and the facilities fail—it’s telling that the private sector won’t build them on its own—taxpayers will wind up on the hook, as usual.”
Read the entire article at City Journal: Convention Wisdom.
(1 votes, average: 5.00 out of 5)
Loading...