An affiliate of Hyatt Hotels Corp. has agreed to manage a 300-room hotel under the Hyatt Regency brand at Tysons Corner. Macerich, the owner of Tysons Corner Center since 2005, announced the deal and noted that it will be part of a larger mixed-use project.
Macerich, a real estate investment trust based out of Santa Monica, Calif., co-owns the property with the Alaska Permanent Fund Corp, an investor in Tysons Corner since 1985. Woodbine Development Corp. is the third-party developer and hotel specialist for Tysons Corner.
The 17-floor hotel is expected to open in 2014, at the same time as a massive redevelopment and a new Tysons Corner Metrorail station. Besides the hotel, the project includes a 22-story office tower and a 28-story residential building, along with pedestrian walkways and bicycle paths.
The new Hyatt Hotel will offer an executive conference center, a restaurant, bar and lounge, pool and fitness center, and 15,000-square feet of meeting and event space, including a 7,000-square-foot ballroom. It will be connected to Tysons Corner Center via a covered walkway.
“Because of its appeal as a 24-7 environment, Tysons Corner Center will be a preferred hub for business and leisure travelers, as well as visitors for regional retail destinations such as American Girl. Hyatt Regency is a tremendous asset for us,” Art Coppola, chairman and CEO of Macerich, said in a statement.
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