The city announced a deal today with a development partner to build a convention center hotel.
Newcrest Image" signed-on to build the $69 million hotel across from city hall.
The same group that opened the Courtyard by Marriott downtown will also build the convention center hotel.
Thursday's announcment comes a little more than two years after city leaders announced phase one of the $113 million revitalization plan for downtown.
The convention center hotel is the center-piece of the first phase of the plan.
The executive director of Downtown Amarillo Inc. (DAI), Melissa Dailey, says Newcrest Image has a history of building successful hotels including the Courtyard by Marriott.
"They really have proven themselves in the Amarillo market. Downtown specifically with the Courtyard by Marriott which has been so successful." Dailey said.
Despite the announcement, there is still no timeline when construction will begin or when the hotel will open.
The announcement comes two days after another part of the three-pronged project was moved closer to fruition.
The Amarillo Economic Development Corporation will build a new facility for Coca Cola to make room for the Multi-Purpose entertainment Venue (MPEV).
If all goes as planned, construction on the entertainment center would begin sometime in early 2015.
As part of the public-private venture, Newcrest Image is receiving incentives from the city to build the hotel. They'll come in the form of tax rebates and grants.