Hotel plans $50M project

Undaunted by a sluggish national economy, the Hyatt Regency Newport Beach is seeking city approval for a $50-million expansion project that would include 88 new time-share units.

“The hotel industry is very cyclical and we do anticipate the cycle to return,” said Paul Devitt, general manager for the Hyatt Regency Newport Beach.

Expansion plans for the resort overlooking Newport Bay at 1107 Jamboree Road also include a two-level parking garage, an 800-seat ballroom and a 10,000-square-foot spa.

“There is enough demand we feel to support the large spa and hotel there,” Devitt said.

The Newport Beach City Council will likely consider approving expansion plans in January, Devitt said.

The project has been in the works for the past three years.

No firm date on when the hotel will break ground on the project has been set.

When construction begins will largely depend on if and when expansion plans gains approval from the California Costal Commission, Devitt said.

An 11,000-square-foot ballroom included in the expansion plans would be a boon to the community, said Gary Sherwin, president and chief executive of the Newport Beach Conference and Visitors Bureau.

“It would give us one of the largest ballrooms in the community,” Sherwin said. “As a community, we are short on meeting space and this impacts us on a couple of levels — we’re tapped out on meeting space for local events.”

Negotiations are still in the works on how much money in development fees Newport Beach could stand to gain from the expansion project, said Cora Newman, principal of the firm Government Solutions, a consultant on the project.

The city could get as much as $6 million in fees from the expansion plans, Sherwin said.

BRIANNA BAILEY may be reached at (714) 966-4625 or at brianna.bailey@latimes.com.