Long-delayed construction of a $550 million convention center hotel in Washington could move forward after an agreement between developer JBG Cos. and Marriott International, The Washington Post reported.
D.C. Attorney General Peter Nickles said a deal was reached July 1 to end a dispute between Marriott and JBG. Nickles said he expects final signatures on the agreement soon. The deal would allow lawsuits between the two companies to be settled.
JBG has argued that a city-subsidized convention center hotel would hurt its business at the Marriott Wardman Park, the city's largest hotel. JBG bought the Wardman Park with a partner in 2005 at the peak of the real estate market.
An agreement would allow officials to begin issuing bonds for a 14-story Marriott Marquis hotel next to the convention center.