City Debates Selling The Hyatt Hotel

Stay up-to-date with KAKE News:

Tuesday, January 24, 2012

The 14-year-old city owned Hyatt Hotel is worth half of what it was just a few years ago, but still one Wichita city council member wants to put it up for sale.

Councilman Michael O'Donnell made the suggestion Tuesday as city staff presented it's plan for $2.4 billion in capital improvements over the next ten years. The city invested $31 million in building the Hyatt in 1996. Because it's city owned, the hotel is not on the tax roles.

"The fact that we own a huge asset on the river that is not paying taxes, if a private company owned it they would be paying taxes and contributing to our tax base," said O'Donnell.

The mayor says the city has had offers to buy the hotel. Several years ago there was an offer for $50 million. The latest offer was just $17 million.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KAKE TV 1500 N. West Street Wichita, KS 67203-1323 (316) 943-4221
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 137996648 -