Owners negotiating to sell Hyatt Regency in downtown Sarasota

Prominent Tampa philanthropist Dr. Kiran C. Patel and an investment group he leads are in advanced negotiations to sell the 297-room Hyatt Regency hotel in downtown Sarasota.

Patel confirmed the negotiations Monday, May 2 on a call with the Business Observer. He did not disclose who the potential buyer is or what price he hopes to get for the property. But he did say that there are at least “two or three other” investors interested in buying the hotel.