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CNL Hospitality Properties Acquires Interest in Dearborn Hotel

DEARBORN, MI-CNL, a Florida-based hospitality company, has acquired a majority interest in the 772-room Hyatt Dearborn here in a partnership with Ford Motor Land Development Corporation, in addition to a New York City property.

By Dan Heaton | Updated on September 16, 2003

DEARBORN, MI-CNL Hospitality Properties, Inc. has acquired a majority interest in each of the Hyatt Regency here and the Hampton Inn Chelsea in New York City.

CNL acquired a majority interest in the 772-room Hyatt Dearborn in a partnership with Ford Motor Land Development Corporation. The hotel is located across from Ford Motor Company’s World Headquarters within the 2,300-acre business, shopping and entertainment complex of Fairlane, 12 miles from Downtown Detroit. The property features 52,000 sf of meeting space, a revolving rotunda restaurant and newly renovated guest rooms and lobby.

In addition, CNL acquired a majority interest in the newly-constructed 20-story, 144-room Hampton Inn Chelsea through a previously announced joint venture with Hersha Hospitality Trust. The hotel is located in the Chelsea district, bordering the West Village and Midtown Manhattan in New York City. With the opening of this hotel, the Hampton Inn brand enters the New York City market and marks CNL’s first hotel in Manhattan.

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