DEARBORN – The Hyatt Regency hotel chain will leave its location here after its officials were unable to come to an agreement with the new owners of the property, according to local reports. 

The two sides had discussed possible upgrades to the large hotel that overlooks Fairlane Mall and Michigan Avenue, but could not agree on a plan. 

Reportedly, the Hyatt chain did not believe that the Dearborn location is capable of drawing the large traffic it needed in terms of conventions and business meetings. 

According to the Detroit News, the owners of the property are in discussions with other major hotel brands and the hotel will stay open, with no mass layoffs planned. They are also looking into major improvements through the possible new hotel entity. 

The building has been open since 1976 and had long been perhaps the most popular hotel for business, although that edge had subsided recently.  

Dearborn Mayor Jack O’Reilly cited the transformation of the Ritz-Carlton nearby as a blueprint for what can be done going forward. That hotel was renamed “The Henry” after being purchased and revamped in 2010 and has done well.