Former Dearborn Hyatt hotel sold again

Brian J. O'Connor
Detroit News Finance Editor

The former Dearborn Hyatt Regency hotel is back in the news, with its third sale since 2011.

Management of the hotel confirmed Monday that the 722-room convention hotel was sold to an unidentified offshore investment group for an undisclosed price. The sale of the hotel — which now operates under the name Edward Village Michigan — was first reported in Crain’s Detroit Business on Monday.

After years of turmoil, including multiple management companies and a near-foreclosure, the hotel could be returned to its luxury status by the new owners, said Michael O’Callaghan, executive vice president and COO of the Detroit Metro Convention & Visitors Bureau.

“Back when it was a Hyatt, that hotel certainly was a four-star and four-diamond property,” O’Callaghan said. “I believe the potential is there to get back to that level.”

The 14-story glass edifice is the second-biggest hotel in the state, and one of the few to feature the large banquet and ball rooms for large meetings, which have been on the upswing since the expansion and modernization of Cobo Center. In the luxury hotel space, Metro Detroit has only the Westin-Book Cadillac in Detroit and the Townsend Hotel in Birmingham, O’Callaghan said.