Such a shame. Considering they purchased for 11 million, I supposed I can see how 20 milion seems daunting. However, they have to realize what a mammoth size project they have for the bargain they paid. A total of 31 million to have a high-rated luxury Hyatt Regency and be one of the leading convention hotels in the state is a BARGAIN! One can only hope that they sell to some better owners who are up for the task. This isn't just a typically 300 room standard hotel. This is a key player hotel in the local hotel industry. This is another Marriott Ren Cen, Westin Book Cadillac, etc.
By the way, I can tell you from personal experience that if those room do not get updated quickly, the hotel will go downhill fast. The rooms were last renovated in 2001-2002. Typicaly hotel room renovations should occur every 7 years according to industry standards. We are now 3 years past that time. It is no wonder why Hyatt wants to terminate the contract as it becoming a poor representation of their brand. The public areas still felt luxurious and were nicely maintained last time I was there.
Someone should give Ford a call. Didn't they have a nice quarter? Purchasing and renovating the Hyatt would be pocket change to them! GM owns a hotel, why can't Ford?
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