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Posted: Thursday, 02 May 2013 5:22AM

Hyatt Shares Profits With Wichita



     WICHITA -- The City of Wichita bought the downtown Hyatt Regency hotel 12 years ago, and since then has used hotel profits to improve the property. Now city officials say some of the hotel profits will be able to come back into the city's general fund. City finance director Shawn Henning says that over the next 10 years hotel profits will not only cover hotel capital expenses, but provide profits for the city on an annual basis. Yesterday the hotel presented the city with the first such payment, a payment totaling $150,000. City leaders hope to receive at least that amount or more on an annual basis as part of profit-sharing agreement between the city and the hotel.

Wichita Business Journal
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05/02/2013 5:24AM
Hyatt Shares Profits With Wichita
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