Mayor Rahm Emanuel praised the announcement of a $10 million expansion project for the Hyatt Hotel. Once construction is complete, the new hotel will be the fourth largest in the city of Chicago.
Mayor Rahm Emanuel and a gaggle of local aldermen were all smiles Tuesday at the ribbon cutting celebrating a multi-million dollar expansion of the Hyatt Regency McCormick Place.
The $110 expansion and renovation makes it the fourth largest hotel in the city, but Emanuel pointed toward the effect it will have on convention business for the city.
"This is a great day for the city of Chicago, and it's a really bad day for Orlando and Vegas," Emanuel said.
The expansion includes a new 460-guestroom tower, an expanded and fully-renovated lobby, and a complete renovation of the existing 800-guestroom tower.
The retail stores and restaurants inside the restaurant also underwent makeovers.
Both Rahm and the CEO of the Metropolitan Pier and Exposition Authority which owns the hotel, point toward the expansion as a major step toward creating a McCormick Place Entertainment District.
Emanuel announced plans last month to build $140 million worth of new facilities in the area including two hotels and a new arena that will be the home court for DePaul University as well as an expected draw for trade shows and concerts.