News Summary
The Hyatt Regency Downtown Lexington is set to undergo a substantial $58.5 million renovation after receiving preliminary approval for state tourism tax incentives. The Procaccianti Group, owners since 2006, will manage the upgrades beginning later this year, expected to conclude by 2027. While specific details of the renovations remain undisclosed, this project is seen as part of a broader effort to modernize and enhance the guest experience in the downtown area. The hotel, originally opened in 1977, aims to maintain its appeal amidst a revitalized Lexington.
Lexington, Kentucky – The Hyatt Regency Downtown Lexington is set to undergo a significant renovation, with plans for a $58.5 million upgrade receiving preliminary approval for state tourism tax incentives. This decision comes after a previous proposal for a $66 million renovation was withdrawn earlier in the year. The renovations are expected to begin later this year and be completed by 2027.
The Procaccianti Group, owners of the Hyatt Regency since 2006, will manage the renovation process. A representative of the company expressed optimism about the collaboration with stakeholders involved in the approval process. Specific details regarding the renovations are not available as discussions regarding the project took place in a closed session not open to the media or public scrutiny.
Renovation Timeline and Features
The renovation work is set to commence later in 2023 and is projected to conclude by 2027. The plan aims to modernize the hotel while enhancing guest offerings, although exact features and improvements have not been disclosed.
About the Hyatt Regency Downtown Lexington
Located at 401 W. High St., the Hyatt Regency is a 17-story hotel that offers 366 rooms and suites, a restaurant known as the BlueFire Bar & Grill, and an indoor pool. The hotel provides various meeting and event spaces, making it a popular choice for both leisure and business travelers.
The establishment originally opened its doors in 1977 as part of the Lexington Center complex after construction began in 1975. It has a long history of serving visitors to the area and has undergone multiple renovations to maintain its appeal.
Previous Renovations
In 2010, the Hyatt Regency completed a substantial multi-phase renovation exceeding $17.5 million. The upgrades were delayed due to an economic downturn but ultimately included renovations to the indoor pool, which was enhanced with an outdoor deck. Additionally, major improvements were made to the hotel’s windows and heating and air conditioning systems.
Context and Significance of the Renovation
The recent decision to renovate the Hyatt Regency comes amidst a broader trend of revitalization in the downtown area of Lexington. The adjacent Central Bank Center underwent a $310 million renovation and expansion completed in 2022, positioning the area as a more attractive destination for tourists and local events.
Investing in the Hyatt Regency reflects a commitment to enhancing the visitor experience in Lexington, ensuring the hotel remains competitive within the ever-evolving hospitality market. As tourism continues to recover post-pandemic, such upgrades can play a crucial role in drawing visitors to the city and supporting the local economy.
As renovations progress, the community will be eager to see how the updated facilities and services enhance the overall experience at one of Lexington’s key hospitality venues.
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Kentucky.com: Hyatt Regency Renovation
- Murray Ledger: Major Renovation Proposed
- AOL: Hotel Renovation News
- GlobeSt: Lexington Hotel Refinancing
- Business Wire: Lexington Hotel Purchase
- Wikipedia: Hyatt Regency
- Google Search: Hyatt Regency Downtown Lexington
- Google Scholar: Hyatt Regency renovation
- Encyclopedia Britannica: Hotel Renovation
- Google News: Lexington Kentucky hotel news
Author: STAFF HERE LEXINGTON KY STAFF
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