Vitalis, ODG & Scarlett Hotel Group acquire 241-key Hyatt Green Bay, WI.

A Joint Venture between Vitalis, Outlook Development Group (ODG)and Scarlett Hotel Group has acquired the 241-key Hyatt Regency convention center hotel situated in the heart of Green Bay, WI. The JV purchased the asset for $20,747 per key and will make a substantial capital investment to modernize the hotel within 36 months.
Hyatt Regency is connected to KI Convention Center (KICC) and is the region’s largest venue for conferences and conventions. The hotel manages and operates the convention center pursuant to an agreement with the city and is the exclusive sales partner for the convention center. A substantial portion of room bookings at the Hyatt in 2022 were directly associated with events being held at KICC. ​

Scarlett Hotel Group will oversee the management and operation of Hyatt Regency Green Bay as well as the Property Improvement Plan (PIP) leveraging their expertise in the Midwest hospitality industry with specific experience in the convention center hotel space.

Scarlett Hotel Group is a best-in-class operator with an existing portfolio of 17 full and select service hotels. Their existing portfolio includes 7 hotels in the Midwest, including the Best Western Premier Waterfront Hotel & Convention Center in Oshkosh, WI, providing scale and expertise in regional operations.

“We are grateful to partner with Scarlett Hotel Group on this opportunity; through leveraging Scarlett’s decades of experience, we are well positioned to execute on the PIP which will add significant value to the property and elevate the guest experience.” Says Vitalis Managing Director Zac Brooks.

About Scarlett Hotel Group: Scarlett Hotel Group (SHG) is headquartered in Chicago, Illinois and specializes in the acquisition, management and development of hotels across the United States.  SHG founders Andrew Scarlett, Rob Sadoff and Zio Pekovic have decades of experience managing premium brand hotels and operate a seventeen (17) hotel portfolio.   SHG’s industry reputation with private owners, brokers and financial institutions has led to a robust pipeline of on and off-market investment opportunities.

About Vitalis: Vitalis currently owns and operates a $200 mm portfolio of medical outpatient, multifamily and hospitality properties.  Elliot LaBreche and Zac Brooks lead Vitalis in deal identification, underwriting and joint venture structuring.  Vitalis manages family office, high-net worth individual, and institutional capital seeking exposure to alternative asset classes.
Media Contact: Abigail Kind, 802.881.9278