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$220M Berger, Hyatt Hotel Plan Scrapped

DENVER-Mayor Wellington Webb blames difficulty obtaining hotel financing in the wake of the Sept. 11 terrorist attacks for the plug being pulled on a 1,100-room Hyatt Regency hotel plan.

By John Rebchook | Updated on April 03, 2002

DENVER-After year of negotiations, setbacks and stumbling blocks that seemed to have been resolved, Mayor Wellington Webb is pulling the plug on the $220-million convention center hotel planned by Denver developer Bruce Berger. The 1,100-room hotel was to have been operated by the Hyatt Corp.

As a last-minute plan to save the deal, Hyatt was willing to develop and own the hotel, as well as operate it.

But the problem was that in a post-Sept. 11 environment, Berger was unable to land the financing that he needed to guaranty a completion date.

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