Detroit CVB Looks Toward Future as City Emerges From Bankruptcy
Detroit Judge Steven Rhodes has accepted an agreement that would take Detroit out of bankruptcy, ending the nation's largest municipal filing. The Detroit Metro Convention & Visitors Bureau is optimistic for what the future holds. Several major developments are in the works, including a $279 million transformation of the Cobo Convention Center, a $30 million renovation of the Detroit Marriott at the Renaissance Center, and a $650 million hockey arena and entertainment district. "We are watching history in the making as Downtown Detroit becomes the great city it was decades ago — shedding its debt, attracting major investors and bringing in the amenities and services that draw new residents and visitors," said Larry Alexander, president and CEO of the CVB. "While there's much work targeted now for the neighborhoods, progress has been swift downtown. The difficult days of marketing the destination as a convention city while national news stories focused only on corruption, blight and crime rate, are in the rearview mirror." Convention bookings are projected to increase 140 percent from 2014 to 2021, and citywide conventions grew from five last year to 14 this year. Already 16 contracts have been signed for next year.