By Howard Packowitz

NORMAL – The Town of Normal will not offer tax breaks to lure a buyer for the Hyatt Place hotel, according to Mayor Chris Koos.

The mayor said the government can provide support by continuing to be a cheerleader for Uptown Normal, which he believes is an “overwhelming success.”

The current owner started advertising last month for an investor to buy the 114-room hotel, which opened four years ago with the help of tax increment financing dollars.

Koos said Hyatt’s developers were not in the hotel business. It’s not unusual, according to Koos, for investors to sell their properties to free up capital for new projects.

“The people that did Shoppes at College Hills are not the current owners. The people that did Constitution Place Centre are not the current owners. The people that have done some student apartment buildings, large projects in this town, are not the current owners,” said Koos.

“It’s very, very common for developers to sell properties to free up capital,” he added.

Hyatt Place has struggled in a tough hotel market, but Koos said there’s been an upswing thanks to Rivian Automotive.

“Talking to the general manager over there, they’re seeing an increase in business. A lot of it is attributed to Rivian bringing in people to work on the factory, so it’s moving in a positive direction, but still got a ways to go,” Koos said.

It’s out of the town government’s hands when the Hyatt might be sold, and to whom it might be sold, according to the mayor.

He noted it’s a private transaction.

Howard Packowitz can be reached at [email protected]