The resort hotel and conference center will be owned by Maryland Economic Development Corporation (MEDCO) and managed by Hyatt Corporation. The developer is Quadrangle Development Corporation and construction management will be provided by Clark Enterprises, Inc.  Construction was financed by the sale of tax-exempt revenue bonds to private institutions.
Phase I of the project will be the construction of the 400-room Hyatt Regency Chesapeake Bay Resort, which will include an 18-hole championship golf course, 24,000 square-foot conference center, 15,000 square-foot health and fitness spa and a 150-slip marina.

Hyatt-signature pools and restaurants will enhance the resort experience for guests. The resort is scheduled for completion in December 2001.

Phase II of the project will include 350 residential homes, and a future vacation ownership development by Hyatt Vacation Club is also planned for the project. Design details for the project are finalized, and construction will begin this month.

Hyatt�s Expansion

The development of a new property in Chesapeake Bay is part of Hyatt�s aggressive expansion. Hyatt assumed management of the legendary Stanhope in New York City, renaming it The Stanhope, A Park Hyatt Hotel on December 1. The brand-new Hyatt Regency Lake Las Vegas will be open December 17, 1999. 

Additionally, seven other Hyatt hotels are under construction: 

• Park Hyatt Chicago; 
• Hyatt Regency Cleveland at The Arcade; 
• Hyatt Regency Pittsburgh International Airport; 
• Hyatt Regency Penn�s Landing (Philadelphia); 
• Hyatt Regency Calgary; 
• Hyatt Regency St. Lucia Resort; and 
• Hyatt Regency Tamaya Resort (New Mexico).