In 1992, Ed Rendell was elected as the city's first Jewish mayor. At the time, the city had numerous unpaid bills, the lowest bond rating of the top fifty largest U.S. cities, and a budget deficit of US$250 million. Rendell attracted investment in the city, stabilized the city's finances, and produced small budget surpluses. Revitalization of parts of Philadelphia continued in the 1990s. In 1993, a new convention center was opened, creating a hotel boom with seventeen hotels opening between 1998 and 2000 when the city hosted the Republican National Convention. The city began promoting heritage tourism, and producing festivals and entertainment to attract tourists. In 2005, "National Geographic Traveler" named Philadelphia America's Next Great City, citing its recent revitalization and general compact cityscape.