WICHITA, Kan. (AP) — The city of Wichita is considering selling the downtown Hyatt Regency after owning it for more than a decade.
Mayor Jeff Longwell told The Wichita Eagle the city may sell the Hyatt and put the money toward fixing neighborhood streets. There’s no price tag yet for the hotel and garage.
The 303-room hotel opened in 1998 and was purchased by the city in 2001, when the council voted to buy out its private partners in the Hyatt Regency. The city paid investors $2.5 million from its insurance reserves and assumed $15.7 million in debt.
Longwell pointed to the recent sale of another Wichita hotel as evidence of the benefit of selling the Hyatt.
But he says the city would first undergo a cost benefit analysis and get community input.