Hotel Impact Mitigation Fund
Hotel Impact Mitigation Fund supports Utah hotels by compensating city-wide convention event revenue losses to mitigate the impact of the Grand Hyatt's addition to the market.
Funder: Utah Governor's Office of Economic Opportunity
Due Dates: May 30, 2025 (2024 claims) | February 15, 2026 (2025 claims) | December 31, 2026 (Final contract application) | February 15, 2027 (2026 claims)
Funding Amounts: $2.1 million in available funds, prorated among qualifying hotels on an annual reporting and award cycle
Summary: Compensates qualifying Utah hotels for city-wide convention event revenue losses attributable to the Grand Hyatt's addition to the market.
Key Information: Hotels must have been built before July 1, 2014, and be within one mile of Hyatt Regency Salt Lake City.
Description
The Hotel Impact Mitigation Fund, administered by the Utah Governor's Office of Economic Opportunity (GOEO), compensates affected hotels for qualified revenue losses from city-wide events attributable to the Grand Hyatt's addition to the market. Version two began on May 5, 2025, following the original program's end in March 2025. Funding follows an annual January through December reporting and award cycle.
Qualifying city-wide events are hosted at a convention facility under contract by a nonprofit corporation responsible for promoting convention business. They must use at least 100,000 gross square feet in the convention center and 1,500 or more guest rooms. Visit Salt Lake supplies event information, and the office identifies eligible baseline-year and claim-year events. Loss assessments compare claim-year hotel performance with averages from 2017, 2018, and 2019.
