Hyatt Hotels Corporation has been awarded the exclusive right to negotiate for the operation of the proposed Denver Convention Center Hotel. The exclusive rights were awarded to Hyatt by the City of Denver earlier this week and announced by Mayor Wellington Webb.

Hyatt and Denver's convention center hotel committee will proceed with a five-month negotiation period to finalize agreements of the project. The Committee anticipates a March 2003 groundbreaking for the hotel.

Details for the hotel has not been finalized, however, it is expected to have approximately 1,000 rooms with significant meeting space and other facilities commensurate with a first class convention center hotel.

"We are thrilled that Hyatt was chosen to move forward on this new property," said Kevin Mallory, senior vice president of development, Hyatt Hotels Corporation. "With our successes operating convention center hotels around the world, we are confident that this new hotel in Denver will be no exception. We appreciate the commitment of the city in making Denver a premier destination for conventions in years tocome"

The new hotel will complement the two existing Hyatt hotels in the area. The 511-room Hyatt Regency Denver located in the downtown business and entertainment district caters to the individual business traveler, while Hyatt Regency Tech Center with 450 rooms is the focal point Denver's technological center.

Currently there are 204 Hyatt hotels and resorts around the world. Hyatt Corporation and its affiliates manage, franchise or operate 122 hotels and resorts in the U.S., Canada and the Caribbean. Affiliates of Hyatt International Corporation manage, franchise or operate 82 hotels and resorts in 39 countries.