CHICAGO Hyatt Corp. and the Robert Mayer Corp. have secured funding in a joint venture to build a privately-financed waterfront Hyatt resort overlooking the Pacific Ocean in Huntington Beach, CA. GMAC Commercial Mortgage Corporation will be the hotels permanent lender on the project.
Construction has recently commenced on the 519-room Hyatt Regency Grand Coast Resort, which is located between Long Beach and Newport Beach, just minutes from Disneyland. The resort will feature two restaurants and 52,000 square feet of indoor meeting space. It is slated for a September 2002 completion. (4/23/01)