DEARBORN, Mich. (AP) — A hotel management company says it's canceled plans to buy the 772-room Hyatt Regency hotel in the Detroit suburb of Dearborn.

Carlson Rezidor Hotel Group said in a statement Wednesday that the parties to a long-term management agreement have decided to terminate it.

Carlson is based in Minneapolis and Brussels. It announced Sept. 25 that it had signed the agreement to take over the Radisson Hotel & Conference Center in Dearborn, effective later this year.

Carlson promised it would immediately start a "multimillion-dollar renovation" of the hotel, which is near the 160-store Fairlane Town Center mall.

Royal Realties LLC bought the 14-story At the time, Hyatt Hotels Corp. agreed to manage the hotel.