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BOSTON-Chicago-based Hyatt Hotels Corp. will assume management of the Swissotel Boston. The hotel will be renamed Hyatt Regency Boston Financial District but will continue to be owned by Host Marriott Corp.

The Hyatt says the hotel will undergo a multi-million dollar renovation beginning in late-2003. The renovation will focus on guest rooms and restaurants. Ed Rabin, president of the Hyatt Hotels Corp., notes that the company has been looking for an opportunity to expand its presence in Boston for a while. “The property is consistent with Hyatt’s upscale offerings and is an excellent addition to our collection,” he says.

The 500-room property is located in the heart of the city’s financial district, adjacent to the Lafayette Corporate Center. The 22-story hotel features 18,000 sf of meeting space, 17 function rooms and a 5,046 sf ballroom.

Hyatt Regency Boston will be the 208th Hyatt property worldwide and the third property in the Boston area. Hyatt Regency Boston joins Hyatt Harborside, at Boston’s Logan International Airport and Hyatt Regency Cambridge, situated on the Charles River.

There are currently 207 Hyatt hotels and resorts around the world. Hyatt Corporation and its affiliates manage, franchise or operate 123 hotels and resorts in the US, Canada and the Caribbean. Affiliates of Hyatt International Corporation manage, franchise or operate 84 hotels and resorts in 39 countries.

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