Hyatt

wichita.hyatt.com

The City of Wichita is looking to sell the Hyatt Regency Hotel, which sits at the banks of the Arkansas River downtown.

The city acquired the hotel for more than $18 million in 2001, when the original developers were looking to sell the property. The city was concerned that the flagship “Hyatt” name would be rebranded under a less-notable company.

City officials say they are now ready to see what the hotel can fetch on the open market.

The City of Wichita anticipates a quarter million dollars in projected hotel cash flow from the city-owned downtown Hyatt as part of the proposed 2013-14 budget.

Wichita City Manager Bob Layton gave an overview of the proposed budget as part of a formal public hearing during Tuesday’s city council meeting.  Layton told council members one issue that helped shape the budget has to do with the Hyatt.

“This budget anticipates for the first time, a revenue flow to the city from the Hyatt operations,” said Layton.