DEARBORN, Mich. (AP) — A well-known Detroit-area hotel getting a new name and a multimillion-dollar renovation.

Carlson Rezidor Hotel Group on Tuesday announced the signing of a long-term management agreement for the Radisson Hotel & Conference Center in Dearborn.

The hotel currently is known as Hyatt Regency Hotel. The change is effective later this year.

Royal Realties LLC bought the 14-story, more than 700-room hotel last year. At the time, Hyatt Hotels Corp. agreed to manage the hotel.