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Hyatt Regency To Manage Hotel At Tysons Corner Center

SANTA MONICA, Calif., Nov. 2, 2012 /PRNewswire/ -- Macerich (NYSE: MAC), master-developer of Tysons Corner Center, today announced that an affiliate of Hyatt Hotels Corporation (NYSE: H) has agreed to manage the hotel, part of the mixed-use development in McLean, Va. The 17-floor, 300-room hotel will operate under the Hyatt Regency brand, opening in 2014.

Macerich co-owns the property with the Alaska Permanent Fund Corporation, an investor in Tysons Corner Center since early 1985.

"The outstanding Hyatt Regency brand reflects what we are building at Tysons Corner Center – a seamless, high-quality destination combining the best in retail, residential, office and hotel experiences," said Art Coppola, Chairman and Chief Executive Officer, Macerich. "Because of its appeal as a 24/7 environment, Tysons Corner Center will be a preferred hub for business and leisure travelers, as well as visitors for regional retail destinations such as American Girl. Hyatt Regency is a tremendous asset for us."

"We are thrilled to work with Macerich and Woodbine on this project, and we look forward to bringing the Hyatt Regency hotel at Tysons Corner Center," said David Tarr, senior vice president, real estate and development for Hyatt Hotels & Resorts. "Hyatt has a strong presence in the Northern Virginia- Washington market, and we believe Hyatt Regency Tysons Corner Center will further attract leisure and business travelers to the area."

The new Hyatt Regency at Tysons Corner Center will include an executive conference center, a three-meal restaurant, a bar and lounge, pool and fitness center, a coffee and sundries shop and a business center. Additionally, the hotel will offer 15,500 square feet of meeting and event space, including an 7,000-square-foot ballroom, making it an ideal destination for corporate, association and government groups. The hotel (as well as the other new project components, including office and residential towers) will be connected directly via a covered walkway to Tysons Corner Center, which is one of the nation's most successful regional shopping centers, and the new Tysons Corner Metrorail station.

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