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The idea of constructing a headquarters hotel in Portland has been debated for more than a decade, but on Friday the City Club of Portland hopes to bring it to a head.

The nonprofit organization at 12:15 p.m. will host a debate on Metro‘s proposal to build a $197.5 million Hyatt hotel near the Oregon Convention Center. Advocates have long maintained that the convention center is losing business because of the lack of a significant block of nearby rooms; opponents argue the project is risky, costs too much and may hurt other hoteliers.

Construction would require Metro to issue $60 million in bonds that would be paid for via hotel revenue. In addition, $10 million would come from lottery funds; $4 million would come from a Portland Development Commission loan; and $4 million would come from a Metro grant. Minneapolis-based Mortenson Development and its partners would contribute a $118 million private investment.

Debating the subject will be Tom Hazinski, managing director of HVS Convention Sports & Entertainment, and Heywood Sanders, a professor at the University of Texas at San Antonio.

Hazinski leads a private consulting firm that assists municipalities in assessing the market opportunity for convention center facilities.

Sanders is recognized as a national expert on the convention center industry. He previously was retained by a group of private hoteliers opposed to the project.

“We want to continue to be a part of informing and educating Portlanders and Oregonians about the hotel proposal,” said Rachel Loskill, communications director for the City Club of Portland, “and make sure there’s an opportunity to provide both sides (of the issue).”

Len Reed, associate editor and editorial board member at The Oregonian, will moderate the discussion, which will take place at the Governor Hotel in downtown Portland. Doors will open at 11:30 a.m. General admission is free for members or $15 for nonmembers. Tickets are available at the door.