Hyatt Fair Lakes
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Hyatt Fair Lakes

Fairfax, VA

Private Equity Client

Due diligence, acquisition, design, and construction process

Our Role

Real Projectives evaluated the risks and rewards of investing in the project for a private equity client. The company oversaw the diligence, acquisition, design, and construction processes, to enhance the performance of the project’s partners, consultants, and contractors.

Unique Approach

  • Visited the site during the acquisition and Property Improvement Plan (PIP) stage to identify potential capital projects.
  • Contributed knowledge of the Hyatt brand and of the hotel industry to inform project design, schedule, and construction sequencing.
  • Assisted the operator with the negotiation of major contracts, on behalf of the client.
  • Attended monthly OAC meetings to gauge project progress for both design and construction. Approved monthly draws, drafted comprehensive reports, and consulted on project financial progress and open issues.
  • Oversaw the development partner and operator to ensure that project risks were mitigated.


  • Successfully completed capital projects of over $1.5 million, including upgrades to the chiller, cooling tower, and boilers.
  • Coordinated and upgraded guest rooms, corridors, and fitness center to conform to Hyatt brand standards, on time and within budget.

Scope of Work

The Hyatt – Fair Lakes is a 12-story, 316-key full service hotel with 23 panoramic suites and 26 extended stay rooms. The hotel is located in the heart of Fairfax County, adjacent to Fair Lakes Mall. The hotel, built in 1989, features a 24-hour fitness center, a heated indoor pool, an outdoor patio, a full service restaurant and bar, and 9,000 sq. ft. of meeting space.

Project Summary

  • Client: Private Equity Client
  • Location: Fairfax, VA
  • Size: 316 guest rooms, 12 stories Full service restaurant and bar Pool, fitness center & meeting space
  • Timeline: July 2015 – February 2017
  • Services: Due diligence, acquisition, design, and construction processes
  • Cost: $15 Million