Council Airport Committee
October 26, 2023
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Third Amendment to the Existing Ground
Lease with Mahabal Hospitality, LLC
3 Background
• Lease executed in November 2017
• Two hotels to be built – Hyatt Place and Home2Suites
• First Amendment signed in October 2018
• Second Amendment signed in October 2019
• Home2Suites opened in March 2022
4 Background
5 Third Amendment
• Construction of Hyatt delayed due to COVID19
• Required by lender
• New construction end date (hotel): June 1, 2026
• Banquet facility
6 Next Steps
• Recommendation to Council
• Execution of amendment
7 Third Amendment to the Existing Ground
Lease with Mahabal Hospitality, LLC
Skywest Property Update
8 9
Skywest Property Update
• Work continues on Airport Layout Plan Update
• Presentation – 1st or 2nd quarter of 2024
Skywest Property Update
10 2023 Airport Open House
11 2023 Airport Open House
12 • Turnout of almost 9,000
• Event included tours, displays, and rides
• Record number of vendors/exhibitors
• Tremendous support from City Council and City departments 2023 Airport Open House
13 2023 Airport Open House
14 Updated 2024 Agenda Planning Calendar
15 2024 Calendar
16 Committee Members and Staff
Announcements and Referrals
17 Meeting Adjournment
Council Airport Committee
October 26, 2023
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