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The port district is scheduled to vote tomorrow (June 8) on a proposal to change the control of Manchester Grand Hyatt Hotel to Hyatt Hotels Corporation. The move needs consent of the port board. Hotelier Doug Manchester's lease expires in 2067 on the 1,625-room hotel at One Market Place. Manchester's company paid more than $9 million in rent to the port district in the 2008/2009 fiscal year. If the deal is approved and consummated, Hyatt will have a substantial majority equity in the hotel. Hyatt will continue to manage it. Thanks to Matt Potter for coming up with this item.
The port district is scheduled to vote tomorrow (June 8) on a proposal to change the control of Manchester Grand Hyatt Hotel to Hyatt Hotels Corporation. The move needs consent of the port board. Hotelier Doug Manchester's lease expires in 2067 on the 1,625-room hotel at One Market Place. Manchester's company paid more than $9 million in rent to the port district in the 2008/2009 fiscal year. If the deal is approved and consummated, Hyatt will have a substantial majority equity in the hotel. Hyatt will continue to manage it. Thanks to Matt Potter for coming up with this item.