Hyatt to accompany Aloft for first hotels on Tempe Town Lake

Earlier this week, Tempe Mayor Hugh Hallman announced that a Hyatt hotel will replace the Le Meridian planned for Hayden Ferry Lakeside. This coming just a few weeks after the public learned of Starwood’s departure from Tempe. While it has been nearly a year since employees of Starwood and Suncor were aware of the change it only became public knowledge a month ago. It would have been nice to have a Le Meredian hotel, which would really put Tempe on an international scale. Fortunately, the $100+ million project will still be a high-end hotelier, Hyatt Regency.

The Hyatt, which will offer 240 hotel rooms, will also come equipped with 24 residential condominiums, a 4,000 SF spa and 13,000 SF of meeting space. Studies conducted over the last couple years revealed that Downtown Tempe has a shortage of hotel rooms. While several hotels are slowly sprouting around Mill Avenue, the Hyatt will be the second hotel to come to Tempe Town Lake after another Starwood hotel called Aloft opens in January.

Aloft is a new concept from the international hotel giant, which features a modern design and innovative technology throughout. Upon entering the hotel, guests will sign in using similar systems that airports have, where you can pick your own room and the computer gives you your room key. Aloft is highly visible from the Loop 202 highway, but tucked behind Grigio and Northshore from Tempe Town Lake. Tempe has been waiting nearly a decade for a new hotel and will warmly welcome the tax revenue both hotels will produce for the city.

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3 Comments so far (Add 1 more)

  1. That is an interesting point you bring up cw. If I were the developer, it would definitely be a viable alternative. Over time, the prices of the penthouse units would most likely decrease due to the intense usage of the rooms. What will be interesting to see is the outcome of the W Hotel & Residences in Scottsdale. After the wall street crisis, it seems nearly impossible to sell these pricey penthouses, especially in an oversaturated market. Hyatt definitely has their eye on the W and other hotels in similar situations.

    1. Mitch on October 1st, 2008 at 9:14 pm
  2. I wonder if they add the condos and if the market still is slow they just convert them into suites. I think that is what I would do. And if the market has come back by then they can just go with the condos.

    2. cw on October 1st, 2008 at 12:29 pm
  3. The condos at the Hyatt may not be set in stone yet. I’m sure that market conditions will largely dictate whether Hyatt goes that direction or sticks with hotel rooms. W

    3. Will Daly on September 30th, 2008 at 10:14 am

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