Title
APPROVAL OF A RESOLUTION AUTHORIZING A FORGIVABLE LOAN TO STARWOOD HOTELS & RESORTS WORLDWIDE, INC. OF WICHITA FOR ECONOMIC DEVELOPMENT INCENTIVES, AND AUTHORIZING THE INTRA-FUND TRANSFER OF BUDGET AUTHORITY.
Presented by: Sherdeill H. Breathett, Sr., Economic Development.
RECOMMENDED ACTION: Approve the resolution and authorize the Chairman to sign.
Body
Background:
Starwood Hotels and Resorts Worldwide, Inc. ("Starwood"), the owner of hotel brands such as Westin, Sheraton, Four Points and more, is developing a new customer service call center that will employ more than 900 people in the United States. To induce Starwood to place this operation in our community, Greater Wichita Economic Development Coalition ("GWEDC"), Sedgwick County, the City of Wichita and the State of Kansas have developed an incentive package, subject to approval by governing bodies, which includes forgivable loans from the county and city.
The company is asking for approval of the Economic Development Loan Agreements at this time. The city agreement is scheduled to be considered by City Council on May 21.
Analysis:
Starwood Hotels & Resorts Worldwide, Inc. is a hotel and leisure company with 1,134 properties in nearly 100 countries and 171,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Four Points by Sheraton, Aloft, and ElementSM.
Associates at the new center will handle calls and emails from customers regarding reservations and the Starwood Preferred Guest loyalty program. This includes all reservation related activities as well as resolving issues with hotel stays. Additional activities include enrollment into the loyalty program, inquiries on point balances and transactions, redemption of earned points for a variety of awards, and account...
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