Denver hoteliers voted overwhelmingly Tuesday to raise taxes on their guests in order to improve the Colorado Convention Center and the marketing efforts that aim to bring visitors to town.

By a margin of 50-2, hoteliers approved creation of the Denver Tourism Improvement District, which will raise the hotel and lodgers tax by one cent on every hotel within city limits that has 50 rooms or more.

The tax hike is expected to raise roughly $8.7 million annually and would put $4 million a year to increased marketing, $3.8 million to convention-center renovations and $900,000 to other capital improvements at the downtown facility.

The vote Tuesday officially raises the hotel and lodgers tax in the city to 15.75 percent, but hoteliers agreed it was a small price to pay to upgrade the convention center and allow the city to compete for larger conferences that will bring even more visitors to town.

Read more at the Denver Business Journal: