The Waco (Texas) City Council voted on July 2 to build a Fairway Suites hotel on approximately two acres of the city-owned golf course. Under the agreement, the city will receive a one-time payment of $250,000 when the hotel opens, and then one percent of gross sales, or $25,000, whichever is greater.
The Waco (Texas) City Council voted on July 2 to approve construction of a new hotel, the Waco (Texas)-based KWTX-TV News 10 reported.
The Fairway Suites hotel will be built on approximately two acres at city-owned Cottonwood Creek Golf Course, KWTX reported.
Under the agreement, the city will receive a one-time payment of $250,000 when the hotel opens, and then one percent of gross sales, or $25,000, whichever is greater, KWTX reported.
A portion of that money will be used to renovate the clubhouse at the golf course, KWTX reported. The 18-hole golf course is a par 72, and features a driving range, bar and grill, pro shop and a pavilion.
The City Manager will now begin preparing contracts to finalize the agreement, KWTX reported.
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