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June 9, 2021, 10:30 a.m. EDT

City of Coralville Appoints Marcus® Hotels & Resorts as New Managers of Coralville Hotel & Conference Center

Property to be Repositioned Under the Hyatt Regency Brand

Marcus [®] Hotels & Resorts, a nationally recognized owner and management company and division of The Marcus Corporation /zigman2/quotes/200309857/composite MCS +0.97% , today announced that it will assume management of The Coralville Marriott Hotel & Conference Center in Coralville, Iowa, effective August 18, 2021. Owned by the City of Coralville, this 286-room hotel will be rebranded under the Hyatt Regency brand as the Hyatt Regency Coralville Hotel & Conference Center as of the same date. Following the brand transition, the property will benefit from a phased renovation focusing on the Edgewater Grille restaurant and all hotel guest rooms.

“We are excited to partner with Marcus Hotels & Resorts for the future of our hotel and conference center. Their experience, innovation, and leadership in hospitality, particularly in the Midwest, will be an asset to the City and to the hotel’s guests. Their focus on individual hotel properties and communities sets them apart,” said Kelly Hayworth, city administrator, City of Coralville.

Currently positioned under the Marriott brand, the landmark property is located in the heart of the Iowa River Landing, a 180-acre mixed-use development featuring more than 330,000 square feet of retail, office, residential and entertainment spaces. Situated just three miles from the University of Iowa, which is ranked as one of the best public universities in the country, the property boasts one of the area’s most desired locations for travelers as well as large scale meetings, events, exhibitions and more.

“Marcus Hotels & Resorts is thrilled to grow its footprint into Iowa, assume management of this full-service upper upscale hotel and join the vibrant Coralville and Iowa City communities,” said Michael Evans, president of Marcus Hotels & Resorts. “When you look at our hotel portfolio you can see how deep our Big Ten roots run and we are excited to extend those roots into Hawkeye Country and the broader Eastern Iowa region. We are looking forward to the start of a long and productive relationship with the City of Coralville and to working with Hyatt to delight our guests and deliver continued operational excellence for this market leading hotel.”

The hotel features 57,588 square feet of state-of-the-art meeting and convention space, boasting an exhibit hall capable of hosting up to 3,000 people, two elegant ballrooms and 20 flexible breakout meeting spaces. Its well-appointed hotel rooms and suites feature signature bedding, marble baths, Wi-Fi and Iowa River views. With particular expertise in developing restaurant and special event destinations, Marcus Hotels & Resorts will be working closely with the hotel owners to cement Hyatt Regency Coralville Hotel & Conference Center as the place to be for both visitors and locals alike.

“We are thrilled to introduce the Hyatt Regency brand to the great state of Iowa and to the many visitors of the vibrant Iowa City – Coralville area and the University of Iowa. Hyatt looks forward to working with the City of Coralville and Marcus Hotels & Resorts to create a hotel that will meet the needs of travelers who seek seamless and energizing experiences,” said David Tarr, Hyatt’s senior vice president of development.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Marcus Hotels & Resorts

With the addition of Hyatt Regency Coralville Hotel & Conference Center, Marcus Hotels & Resorts owns and/or manages 19 hotels, resorts and other properties in the U.S. The company’s distinctive portfolio includes city-center meeting hotels, upscale resorts, historic properties, and premium branded and independent first-class hotels. Marcus Hotels & Resorts is an approved operator for all major lodging brands. A leader in the hospitality industry since 1962, Marcus Hotels & Resorts creates asset value for hotel owners through its expertise in management, development and product repositioning. This includes premier food and beverage brands such as Mason Street Grill, ChopHouse, Miller Time® Pub & Grill and SafeHouse® Restaurants. For more information, please visit: http://media.marcushotels.com and follow the company on Facebook and Twitter (@MarcusHotels).

About The Marcus Corporation

Headquartered in Milwaukee, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. In addition to its lodging division, its theatre division, Marcus Theatres [®] , is the fourth largest theatre circuit in the U.S. and currently owns or operates 1,097 screens at 89 locations in 17 states under the Marcus Theatres, Movie Tavern® by Marcus and Bistro Plex ® brands. For more information, please visit the company’s website at www.marcuscorp.com .

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 20 premier brands. As of March 31, 2021, the Company's portfolio included more than 1,000 hotel, all-inclusive, and wellness resort properties in 68 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top employees, build relationships with guests and create value for shareholders. The Company's subsidiaries operate, manage, franchise, own, lease, develop, license, or provide services to hotels, resorts, branded residences, and vacation ownership properties, including under the Park Hyatt® , Miraval® , Grand Hyatt® , Alila® , Andaz® , The Unbound Collection by Hyatt® , Destination by Hyatt™ , Hyatt Regency® , Hyatt® , Hyatt Ziva™ , Hyatt Zilara™ , Thompson Hotels® , Hyatt Centric® , Caption by Hyatt , JdV by Hyatt™ , Hyatt House® , Hyatt Place® , tommie™ , UrCove , and Hyatt Residence Club® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.

About Hyatt Regency

The Hyatt Regency brand prides itself on making travel free from stress and filled with success. More than 200 conveniently located Hyatt Regency urban and resort locations in more than 30 countries around the world serve as the go-to gathering space for every occasion – from efficient personalized, high-touch business meetings to energizing family vacations. The brand offers stress-free environments for seamless gatherings and empathetic service that anticipates guests’ needs. Designed for productivity and peace of mind, Hyatt Regency hotels and resorts offer a full range of services and amenities, including the space to work, engage or relax; notable culinary experiences; technology-enabled ways to collaborate; and expert meeting and event planners who can take care of every detail. For more information, please visit hyattregency.com . Follow @HyattRegency on Facebook , Twitter and Instagram , and tag photos with #HyattRegency.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210609005612/en/

SOURCE: The Marcus Corporation

Andrew Flack, Chief Commercial Officer
AndrewFlack@marcushotels.com

COMTEX_388045157/2456/2021-06-09T10:30:22

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Copyright Business Wire 2021

/zigman2/quotes/200309857/composite
US : U.S.: NYSE
$ 18.77
+0.18 +0.97%
Volume: 221,917
Oct. 15, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$570.86 million
Rev. per Employee
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