Hyatt will not be the operator of Kansas City’s planned downtown convention hotel after all.
Developers announced Wednesday that New York-based Loews Hotels and Co., a luxury hotel operator, will be a joint venture partner with KC Hotel Developers LLC to build the hotel, and that its investment will be “substantial.” Loews will also be the hotel operator.
Loews Hotels & Co. approached KC Hotel Developers during the past year with an interest in both operating and running the hotel, said Mike Burke, a principal at the developer.
Although KC Hotel Developers was pleased to have both Loews and Hyatt interested in the project, Burke said Loews’ investment “gives us the certainty of being able to build Kansas City’s first convention hotel in more than 30 years.”
Neither Burke nor Jonathan Tisch disclosed the amount, only calling it “a substantial piece of equity.”