The 511-room hotel has been a Hyatt since 1987. Before that, it was a Fairfield. The hotel's name was changed to better distinguish it from the 1,100-room Hyatt hotel under construction across from the Colorado Convention Center. John Schafer, general manager for the new Grand Hyatt, says he doesn't want his hotel to be known as the "old Hyatt," and the 1,100-room Hyatt--scheduled to open this December--to be known as the "new Hyatt."

"We think with 1,100 new rooms coming in line just a few blocks from us, we need to differentiate the two hotels," Schafer tells GlobeSt.com. "The Grand Hyatt is a little more intimate and is geared toward the customer willing to pay more for a high-end hotel. Most of the Grand Hotels are found in urban areas and first-tier cities."

But it's not just a name change. The new Grand Hyatt, which is owned by Sarco, a trust for the Anschutz family, is undergoing a $15-million renovation to bring it up to Grand Hyatt requirements. Last year, every room in the Hyatt was upgraded, and now all of the common areas and meeting rooms will be renovated, as well as the entrance. A nonprofit authority created by the City of Denver owns the convention center hotel.