Albany Convention Center Authority Capitalize Albany Corp Albany County Convention and Visitors Bureau

REQUEST FOR EXPRESSIONS OF INTEREST HOTEL DEVELOPMENT

The Albany Convention Center Authority, The Capitalize Albany Corp, and the Albany County Convention and Visitors Bureau jointly desire to ascertain the potential interest in developing a hotel to be located in the proximity of the proposed convention center in downtown Albany, New York. To gauge the level of interest, we are seeking written Expressions of Interest from qualified hotel developers with regard to development of the proposed hotel.

Albany and the capital region are tourist destinations that greatly benefit from the business of government as a source of revenue for the hospitality industry. Market conditions in this area are positively impacted by the need for individuals and organizations from around the state to meet with their representatives, leaders and headquarters staff. Market research has identified the presence of latent demand for meeting and exhibit space not currently met by existing facilities in Albany. Research also demonstrated that significant amounts of convention business can be expected to come to Albany if adequate convention facilities are made available. The publicly owned convention center will respond to this need by providing meeting and exhibition space. Quality lodging that is proximate to the convention center is key to completing the visitor experience and securing the full share of meeting, convention, and tourism business for the proposed convention center.

The proposed concept plan envisions a privately financed hotel to be located in downtown Albany close to the proposed convention center and potentially developed on land proximate to the proposed convention center, a portion of which is currently under contract with Albany Convention Center Authority. The proposed convention center, and the hotel, will take advantage of proximity to the waterfront, existing downtown businesses, and the Times Union Center (the downtown arena). The hotel would benefit from a publicly financed parking structure and respondents to this request should include the existence of a direct connection to the convention center at the exhibition hall, meeting room and banquet/ballroom levels in their proposals.

If the hotel proposal requires public or quasi-public support for the project to be economically viable, the nature and extent of such support should be identified. We will not, directly or indirectly, own the hotel. The hotel proposal should anticipate coordination with the proposed convention center for convention center events. We expect to be able to include the hotel in marketing efforts for convention center events.

We believe that the proposed convention center would be supported most effectively by a full- service hotel, however, it is recognized that market conditions may not allow the private development of a full-service property. Prior feasibility research has indicated that the proposed convention center would be most effectively supported by a 400-room hotel. Consequently, consideration will be given to the development of lower cost hotel concepts that would deliver the quality and services necessary to support the convention center. Adaptive reuse of existing buildings would be considered. Certain arrangements that allow the hotel operator access to function space in the convention center are also possible.

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We believe that the optimum development would include an adjacent hotel opening at approximately that same time as the proposed convention center. Land acquisition is underway and respondents may assume that the convention center construction can be completed in approximately two years following completion of site acquisition and project design.

Respondents may review the current market study for the convention center project, dated 10-27- 09, and the Albany Convention Center Authority Report to the Board dated 11-20-09, copies enclosed, for specifics related to the concept plan for the proposed convention center project.

Respondents may submit information about their company that indicates their capacity and experience in hotel development, including any public private partnerships. Respondents may also recommend brands or product types they believe would be feasible and serve the interests of this project. However, this solicitation is not to be considered a request for qualifications or proposal, but rather a request for an expression of your interest in becoming a participant in a private/public partnership.

This request for Expressions of Interest is not a solicitation for any contract, and we will not enter into any contract as a result of this submission. The eventual process leading to development of a hotel has not yet been determined. Your response would provide valuable input and permit us to keep you informed of the progress of the proposed convention center development and any future hotel developer solicitations.

If there are any questions, please contact Mr. Sorrentino @ [email protected]

Expressions of Interest will be received until 5:00 PM EST on Friday May 7, 2010 to the attention of: Al Sorrentino, Project Mgr. C/O The Albany Convention Center Authority (ACCA) 386 Broadway Albany, NY 12207

Links: • HVS Market Study 10-27-09: www.accany.com/_PDF/HVS_UpdatedConventionCenterReport.pdf • Albany Convention Center Report to the Board 11-20-2009: www.accany.com/_PDF/FinalACC_BoardUpdate20091124.pdf