Burgeoning Convention Neighborhood will Feature New Headquarters Hotel, Expanded Convention Center and Enhanced Pedestrian Experience
SEATTLE – Seattle developer R.C. Hedreen Co. entered into a management agreement with Hyatt Hotels Corporation for its new headquarters hotel currently being developed in downtown Seattle. The 1,260-guest room Hyatt Regency hotel will be Seattle’s largest and one of the largest on the West Coast when completed in mid-2018.
Located in the heart of downtown Seattle between Stewart and Howell streets and Eighth and Ninth avenues, the premium, full service hotel will be two blocks north of the existing Washington State Convention Center (WSCC) and adjacent to a planned expansion of the convention center.
The 45-story Hyatt Regency Seattle will include more than 100,000 square feet of flexible meeting and ballroom space and nearly 30,000 square feet of restaurants, lounges and beverage offerings, as well as an expansive Regency Club lounge – all expected to enliven the surrounding pedestrian streetscape and growing convention neighborhood.
“This is fantastic and long-awaited news – and nothing short of a lighting strike in a red-hot downtown convention district,” said Tom Norwalk, President & CEO of Visit Seattle. “We’re excited to have a hotel development of this size with the Hyatt brand right in the heart of the city.”
The R.C. Hedreen Company currently owns Grand Hyatt Seattle and Hyatt at Olive 8 in downtown Seattle. With the addition of the Hyatt Regency in 2018, Hyatt brands are expected to comprise 16 percent of downtown hotel inventory; Marriott/Starwood brands will be 33 percent, Hilton 11 percent and IHG/Kimpton 9 percent. Upon completion, the new Hyatt Regency and two other Hyatt properties will be located within just a couple blocks of a planned addition to the existing WSCC.
“This is tremendous news and a big win for Seattle, as well as for convention delegates and visitors,” said Jeffrey Blosser, President/CEO of the Washington State Convention Center. “The new Hyatt is an important component to the vibrant growth of the downtown core that will continue to bring people to Seattle.”
The WSCC plans an additional convention facility with up to 250,000 square feet of heavy-load exhibition space on two levels, 120,000 square feet of meeting rooms, a full service kitchen and 60,000 square feet of ballroom, pre-function areas, freight loading and support space, as well as retail, and co-development opportunities for an apartment project and an office building. The WSCC additional facility is projected for a 2017 construction start and completion in 2020.
“The convention center addition and its new Hyatt Regency Seattle neighbor will both be world-class draws for national and international conventions,” said Matt Griffin, managing partner of Pine Street Group L.L.C., which is developing the addition on behalf of WSCC. “Downtown Seattle and the region will benefit for years from this strong team, enhancing the already significant allure of convention offerings in the Puget Sound region.
This planned expansion follows a $20 million refurbishment of the WSCC’s current downtown Seattle facility last year and streetscape improvements in the blocks surrounding the existing center and new facility site this year.
Some 3,000 new hotel guest rooms are planned in the Seattle market in the next three years. Four new properties will open in 2017, including a 184-room SLS hotel, a 282-guest room Embassy Suites Hotel and a 309-room Residence Inn by Marriott and 147-room Marriott Moxy.
“With the addition of the Hyatt Regency Seattle’s guest rooms and on-site meeting and event space right in the convention core, we hope to attract and retain larger meeting and convention groups,” said Rob Hampton, Visit Seattle Senior Vice President of Sales and Services.
The Hyatt Regency brand includes more than 168 urban and resort locations in over 30 countries around the world. Hyatt Hotels Corporation, headquartered in Chicago, has a portfolio of 12 premier brands and 667 properties in 54 countries.
R.C. Hedreen Company and its affiliates have been involved in the development, ownership and management of world-class investment properties since 1963. The company has shifted its focus primarily to luxury hotels over the past decade, but its portfolio of successful projects includes retail, high-rise office buildings and single and multi-family homes.
Visit Seattle, a private, nonprofit marketing organization, has served as Seattle/King County’s official destination marketing organization (DMO) for more than 50 years. The goal of these marketing efforts is to enhance the employment opportunities and economic prosperity of the region. For more information, visit www.visitseattle.org.
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