Iconic Atlanta Hyatt Regency Sells

Main Photo: The Atlanta Hyatt Regency

Date: September 2019

Location: Peachtree Street, Atlanta, Georgia, USA

Name: The Atlanta Hyatt Regency

No. of Keys: 1,260

Seller: Hyatt Hotels Corp

Buyer: The Hyatt Regency Atlanta Downtown Atlanta’s iconic blue-domed hotel has a new owner after a multi-million-dollar trade. Hyatt Hotels Corp. sold its Hyatt Regency Atlanta for US$355M to an unidentified third party, according to a filing with the Securities and Exchange Commission.

In turn, Hyatt has entered into a “long-term management agreement” on the property while the new owner “plans to invest significant capital into Hyatt Regency Atlanta over the next several years,” the hotel operator disclosed to the SEC.

The 1,260-room hotel at 265 Peachtree St. is best known for the Polaris restaurant, which sits on top of the building in its circular blue dome. The hotel also features 180,000 sq. ft. of function and meeting space as well as 50,000 sq. ft. of exhibition space.

The Hyatt Regency, which began life in 1967 as the Regency Hyatt House, was designed by the famed Atlanta architect and developer John Portman. It has been expanded numerous times over the years and has remained one of Atlanta’s prime convention hotels, including serving as a hotel host for the annual DragonCon.

The hotel also has been featured in the skyline in many films and television shows over the years, including 2015’s sci-fi thriller Insurgent and the 2016 film Keeping Up With The Joneses.

The Hyatt Regency’s circular tower also acted as a double for the Westin Peachtree Plaza during the filming of Burt Reynolds’ 1981 flick, Sharkey’s Machine, where an actor performed a record-making 220-foot freefall stunt from one of its windows.

But the hotel has seen darker moments. This past August, an alleged flasher fell to his death attempting to escape hotel security after jumping from a balcony, falling 10 stories to the lobby floor.

Price: US$355m

Price per Key: US$281,746

THPT Comment: Hyatt releasing some capital for their continued growth. The undisclosed buy has picked this iconic property up for a fair price. Anyone know who the mysterious buyer is?

First Seen: Atlanta Biznow

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