BUFFALO, N.Y. (WKBW) — Developer Douglas Jemal has formally purchased the Hyatt Regency hotel in Downtown Buffalo.
Jemal’s Genesee LLC bid $15 million for the hotel at a foreclosure auction that took place in the Erie County Clerk’s Office Wednesday. It was the only bid submitted and it was accepted.
Jemal announced in November 2020 he was in the process of buying the Hyatt, one of the largest hotels in Downtown Buffalo. The 396-room hotel and conference center closed in April 2020 during the height of the COVID-19 pandemic.
Jemal spoke with 7 Eyewitness News in July about the hotel, saying there was no structural work that needed to be done to reopen the hotel, simply cosmetic work that would be done on a floor-by-floor basis.
While speaking with 7 Eyewitness News about his plans, Jemal stressed the importance of reopening the hotel due to its proximity to the Buffalo Niagara Convention Center.
Jemal has been operating the building for several months as he assumed the mortgage and other expenses. An agreement was previously reached and the hotel will remain the Hyatt Regency Buffalo.
The developer also owns Seneca One Tower and the Statler City complex.