Comments on: Dearborn, Hyatt to Discuss Ways to Boost Downtown

By: pdmom

pdmom — Wed, 10 Feb 2010 19:07:21 +0000

Let’s hope they do not shuttle all the crime from the Hyatt to West Deaborn. There is plenty going on in the bar district that the residence need to be awakened to. Plenty of fights, knives and guns there on the weekends. Dearborn residents need to be vigilant in protecting our area. Perhaps a report on who is frequenting the Hyatt these days would be helpful. Lets see what we can draw to the Hyatt before we begin shuttling their problems to West Dearborn.

By: Paul Mastrogiacomo

Paul Mastrogiacomo — Thu, 04 Feb 2010 05:42:15 +0000

If the Hyatt wants to run a shuttle they should just do it. I agree with you 48124, if they rely on the WDDDA we’ll be seeing the same story next year.

By: Jimmy

Jimmy — Wed, 03 Feb 2010 22:48:25 +0000

Lapita has agreed to host the shuttles in front of their establishment, since it is the areas biggst draw and most succesful restaurant.

By: oldalldayschoolmom

oldalldayschoolmom — Wed, 03 Feb 2010 21:31:17 +0000

Receiver Takes Over Hyatt Regency Dearborn

Thursday, 10 December 2009
Ashford Hospitality Trust Inc., which last month said it had defaulted on a $29.1 million mortgage on its Hyatt Regency Dearborn hotel, said the property has been transferred to a court-appointed receiver.

As a result, it is no longer liable to continue paying the debt, which was securitized through GS Mortgage Securities Corp. II, 2004-C1. The Dallas hotel REIT said it has been cooperating with the deal’s special servicer, CWCapital Asset Management, for a consensual foreclosure of the debt or a deed-in-lieu of foreclosure.

The 14-story property at 600 Town Center Drive has 772 rooms and was constructed in 1976. Ashford had acquired an 85 percent stake in the property as part of its 2007 purchase of hotels from CNL Hotels & Resorts. It subsequently bought the remaining stake in the hotel in a deal that valued the property at $50 million.

The transfer of the hotel to a receiver eliminates all remaining debt maturities Ashford would have faced next year. It faces only $229 million of maturities in 2011.

Comments? E-mail Orest Mandzy or call him at (215) 504-2860, Ext. 211.

By: Darren

Darren — Wed, 03 Feb 2010 19:45:06 +0000

This is a great idea!

By: becki kain

becki kain — Wed, 03 Feb 2010 19:20:50 +0000

i think this is great !

By: 48124

48124 — Wed, 03 Feb 2010 03:07:37 +0000

In normal cities, hotels have a free shuttle that typically operates in a 2 mile radius….I cant believe the Hyatts manager actually appraoched the WDDDA??

Erase the date of this story, beacuase in a year we will be reading the same thing.

By: Bill

Bill — Tue, 02 Feb 2010 21:00:27 +0000

It is a good idea. The catch is what will draw folks from the Hyatt and Ritz to west Dearborn? Is there enough of an attraction to shuttle folks from the hotels to west Dearborn? What will keep them coming back? Moreover, is there something for residents of Dearborn to look forward to?

By: homegrown

homegrown — Tue, 02 Feb 2010 17:51:20 +0000

Too bad the monorail connecting the Hyatt and the Fairlane Mall was taken out 25 years ago. The WDDDA and the Town Center could have tried to get stimulus money and extend the monorail to downtown West Dearborn from the Hyatt, or the newly proposed Convention Center. Isn’t the Hyatt going into foreclosure?

By: David

David — Tue, 02 Feb 2010 16:14:27 +0000

Nice idea, however keep the City fathers and other politicians out of it, because all they would do is screw it up. Good out of the box thinking, now lets implement it. I think its a winning idea.