IRVINE, Calif.—After two years of closing, Hotel Irvine expects a reopening after the Irvine Company sold it to Hyatt Aug. 3 for $135 million.
The 541-room Hotel Irvine, alongside Fashion Island Hotel, was closed in the spring of 2020 during the height of the COVID-19 pandemic. Many hotels and tourism businesses were throttled by when travel came to a standstill.
“We plan to leverage our world-class commercial engine in one of the best markets in southern California to unlock additional value in the hotel,” a Hyatt spokesperson told The Epoch Times in an email.
Hyatt came to an agreement on long-term management of Hotel Irvine under the Hyatt Regency brand, while Irvine Company maintains the ownership of the land….