Located at 2800 Ocean Gateway on a 261-acre plot along the Choptank River, the resort property's amenities account for high development cost. In addition to the multitude of guestrooms, the resort features 42,000 sf of meeting and event space, an 18,000-sf spa, a 150-slip marina, an 18-acre nature reserve, and an 18-hole champion golf course. There are also indoor and outdoor swimming pools, a children's recreation center, a fitness center and four tennis courts.

"This project is a unique example of economic development with community spirit--an idea that blossomed as a partnership between the State and local government and Hyatt hotels," Glendening says in his welcome to ceremony attendees. "By working together, we have created more than a luxury hotel, but a destination that will showcase the best of Maryland's Eastern Shore." Quadrangle Development and Clark Enterprises developed the project and will serve as owners of the property via affiliates in a partnership with Hyatt. The partnership, Chesapeake Resorts LLC, acquired the land that was once the site of Eastern Shore Hospital Center from the Maryland Economic Development Corporation in a $5 million deal five years ago. The state of Maryland offered up $8 million to realize the project, while MEDCO issued $135 million in tax-free revenue bonds to help along financing. Both Quadrangle and Hyatt provided private funding.