Hyatt Development Corp. has reached an agreement with city officials to manage a long-stalled downtown hotel, which once was being developed by Buffalo businessman Paul Snyder.
The shell of the $46.7 million hotel has loomed over the city since Snyder, its original developer withdrew from the project in 1987. Hyatt had an agreement with that developer to manage the hotel.
Earlier this year, a group of 10 Rochester corporations agreed to invest $10 million to get construction of the hotel started again.
Hyatt will contribute an undisclosed amount and become a partner in the project.