Despite Detroit’s Chapter 9 bankruptcy filing, the Detroit Metro Convention & Visitors Bureau is assuring meetings clients that the city remains open for business and that meetings in Detroit will proceed in a seamless fashion.
“The private sector has invested in Detroit at unprecedented levels over the past two years, bringing in close to 12,000 new employees and $11 billion in new economic development,” said DMCVB President and CEO Larry Alexander in a statement. “Officials managing the bankruptcy recognize that visitors and conventions are key to a successful city and will work hand in hand with the private sector to continue the positive momentum in Detroit.”
Detroit’s Cobo Convention Center—which is funded by its revenue and the state of Michigan—is more than halfway through its $279 million renovation, which includes a new 40,000-square-foot ballroom, according to the DMCVB statement. In addition, a new 367-room, eight-suite Crowne Plaza Ponthchartrain–Detroit Convention Center Hotel recently opened, adding to an inventory of 4,000 hotel rooms downtown.
“Bankruptcy is a difficult but clearly unavoidable step that will pave the way for a viable and sustainable future for the city of Detroit,” said Alexander. “We are fully supportive of this decision if it will solve the city’s financial challenges expeditiously and allow the city to move forward. Detroit has been enjoying an amazing comeback, and putting our financial house in order is part of that comeback.”