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Kelowna's long-delayed downtown waterfront hotel just took its biggest step forward in years — with taxpayers holding a $27.8 million stake in the outcome.

The City of Kelowna announced it has selected Marriott International as its preferred partner for a hotel and branded residential project at 289 Queensway.

That's the vacant waterfront-adjacent site downtown that the City bought from Westcorp last year, along with the 1440-1460 Pandosy Street office building and the Kelowna Marina at 210 Bernard Avenue.

The City brought in Avington Financial Limited to help assemble the package — a major hotel flag, a motivated developer, and an investment group willing to put money behind the vision.

Marriott is about as serious a flag as exists in the industry.

The biggest hotel brand in the world doesn't lend its name lightly.

But here's what the announcement doesn't say: design, financing, and final development terms still have to be worked out.

Preferred partner is not a signed deal.

It's a framework — and frameworks are where taxpayer exposure gets decided.

The conservative read is straightforward.

The City already spent public money to buy the land.

Every dollar of additional public contribution, concession, or risk from here on should be disclosed before the final agreement is signed, not discovered afterward.

Mayor Tom Dyas framed the purchase as strengthening the local economy and tourism sector — and a premier waterfront hotel would genuinely expand Kelowna's capacity to host major events.

Tourism dollars, construction jobs, and a working waterfront are all worth having.

The question is who carries the risk if the numbers don't pencil out.

Voters heading to the polls on October 17 should ask one thing of every candidate: will you commit to making the final development terms public before a shovel hits the ground?

A world-class hotel is welcome.

A blank cheque is not.