M1T Capital Partners in new bid to buy Royal Dearborn Hotel

M1T Capital Partners is beginning their second attempt to acquire the former Dearborn Hyatt Regency.

The New York City-based hedge fund, which backed a failed joint effort with Atmosphere Hospitality Management to buy the 772-room hotel and conference center over the past couple of years, last week submitted a formal bid of its own to acquire it.

FREE DAILY NEWSLETTER

Like this story? Subscribe to Operations!

Hospitality professionals turn to Operations as their go-to source for breaking news on guest rooms, food & beverage, hospitality trends, management, and more. Sign up today to get news and updates delivered to your inbox daily and read on the go.

If successful, M1T plans to bring back Highlands Ranch, Colo.-based Atmosphere Hospitality to manage the property — now operating as the Royal Dearborn Hotel & Conference Center — said Anthony Gude, co-executive director of M1T.

"Detroit is our generation's chance," said Gude, who leads the firm with co-Executive Director Steven Schlamann, 29.

Even as it bids on the Dearborn hotel, M1T said it is negotiating to become an investor in the renovation of the former Holiday Inn of Southfield, a project reported in Crain's in late July.

Suggested Articles

McKibbon Hospitality manages the 200-room Hyatt House Chicago/West Loop-Fulton Market.

The Four Seasons Hotel San Francisco at Embarcadero will replace the Loews Regency San Francisco in 2020.

As much as sustainability is deemed a goal to satisfy consumer demands, the main concern remains the impact it will have on profitability.