Atlantis Marine World owner breaks ground for Hyatt hotel
Jim Bissett, left, listens in 2008 as his attorney, Eric J. Russo of Sayville, make a presentation to the Riverhead town board about his proposed hotel, which would be built next to the Atlantis Marine World aquarium. (Aug. 5, 2008) Credit: Newsday / Mitch Freedman
Jim Bissett, owner of the Atlantis Marine World in Riverhead, is betting $25 million that the town's downtown will be making a comeback.
Bissett said he plans to build a 100-room Hyatt hotel adjacent to the aquarium on East Main Street by 2011. Aside from guest rooms, the hotel will have some conference rooms, a 400-seat banquet hall and 10,000-square-feet of exhibit space.
The cost of the project, which has been in the planning stage for five years, is about $25 million, a mix of funding from private equity and partners, Bissett said.
"We already broke ground" on the hotel, Bissett said. "We're on track for an opening in June 2011."
There are vacant stores in downtown Riverhead, Bissett acknowledged, but he said the aquarium logged 400,000 visitors last year.
One of the problems in Riverhead, he said, is a lack of hotel rooms. Last year he had to send visitors back to hotels in western Suffolk.
"There's a lot of interest in this," Bissett said. "We feel it's time to pull the trigger."
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