So, the state-appointed commission organized to decide the fate of the Hynes Convention Center has decided that the state should hold onto it.
I guess I have no problem with that, although I see the convention center as basically a way for the area hotels to charge ridiculously high prices on their hotel rooms. The issue I’ve had is that the state must subsidize the convention center, covering the center’s deficit by way of the state income tax and a tax on each hotel room occupant (er, I think).
Is that cost effective? Some experts (basically, area hotel owners and the Greater Boston Convention and Visitors Bureau) say that the return on the state’s investment makes it worth it, that we get back in sales taxes and business revenue way more than what the city and state pay into the deficit. I don’t know, I’ve never seen any data.
The way I see it, the state might as well write big fat checks to the Sheraton and Hilton (and Westin and Marriott), and cut out the middle-man.
I think the mad race to build and rebuild convention centers, currently going on around the country is a ridiculous waste of money. The mantra is always, “we have to build a bigger convention center, because our competitors are building bigger convention centers” doesn’t make any sense.
The new convention center on the South Boston Waterfrontin the Seaport District runs a deficit every year, and the state and its citizens subsidize it. Meanwhile, the new hotels in the area collect their revenue, regardless.
I still don’t see how we all benefit from this.
Oh, the guys over at the Bull & Finch benefit, too, of course.
Panel rejects Romney’s push to keep Hynes center – By Peter J. Howe, The Boston Globe
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