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Hyatt, Hedreen Joint Venture On The Elliott

SEATTLE, WA-Hyatt Hotels Corporation today confirmed earlier reports of a joint venture with R.C. Hedreen on The Elliott, a $140 million super-luxury hotel scheduled for completion in June.

By Janet Parker | Updated on March 01, 2001

SEATTLE, WA-A formal announcement put an end to rampant speculation about Chicago-based Hyatt Hotel Corporation expected involvement in The Elliott, a super-luxury hotel project of Seattle’s R.C. Hedreen Co. Hyatt now says “preliminary agreements have been made and final agreements are expected within 30 days” on a joint venture agreement that would give it ownership in the new hotel.

The $140 million 900,000-sf hotel, recently inducted into a club of The World’s Leading Hotels, will be renamed as the Elliott Grand Hyatt Seattle. The Grand Hyatt designation, introduced in 1980, identifies Hyatt’s ultra-luxury hotels, of which there are currently 18.

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