Hyatt Hotels Corporation and Extell Development Corporation are to introduce the Park Hyatt luxury brand to New York with a newly constructed hotel designed by Pritzker Prize-winning architect Christian de Portzamparc.
The Park Hyatt New York will be located at 157 West 57th Street between Avenue of the Americas and Seventh Avenue, across from Carnegie Hall.
Slated for completion in 2012, the 210-room hotel will be part of a 90-story mixed-use tower that will also feature 135 Thomas Juul-Hansen-designed luxury condominiums with views of Central Park and the New York skyline.
In addition to a distinctive bar and restaurant and 5,000 square feet of retail space, the property will include a premier meeting facility with a grand ballroom and distinctive event space, as well as a lavish spa, fitness center, and indoor swimming pool in a three-story aerie at the top of the hotel.
The hotel will reflect Park Hyatt’s intimate and understated elegance with interiors designed by the design firm Yabu Pushelberg.
“As one of the world’s greatest business, financial and cultural centers, New York is a frequent destination for Park Hyatt guests. We are delighted to be able to bring Park Hyatt’s understated, contemporary sophistication to Manhattan,” says Steve Haggerty, global head of real estate and development for Hyatt.
“Because New York is such a critical market, this hotel will be a milestone for the brand’s development in terms of both representation in a key market and global visibility, two key drivers of brand preference for guests and owners alike,” adds Haggerty. “As we increase our presence in North America, we are committed to establishing the same awareness and reputation for Park Hyatt here that the brand’s iconic hotels and refined service have earned in other markets.”
“We are excited about creating a future landmark in the cultural heart of New York that will be a beacon for travelers from around the world, as well as home to some of the city’s most spectacular residences,” says Gary Barnett, president of Extell Development.
A Hyatt subsidiary and Extell have formed a joint venture that will acquire the hotel upon its completion, subject to achievement of certain contractual milestones.
The Park Hyatt hotel brand has properties in 25 destinations, including Beijing, Buenos Aires, Carlsbad, Chicago, Dubai, Goa, Hamburg, Istanbul, Jeddah, Melbourne, Mendoza, Milan, Moscow, Paris, Saigon, Seoul, Shanghai, Sydney, Tokyo, Toronto, Washington, D.C., and Zurich. In addition to the Park Hyatt New York, 12 other Park Hyatt hotels are under development, which, when completed, will increase the number of Park Hyatt properties worldwide to 38 over the next five years.
As of June 30, 2010, Chicago-headquartered Hyatt’s worldwide portfolio of hotels consisted of 445 properties. The company’s subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt, Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency, Hyatt Place and Hyatt Summerfield Suites brand names and have locations under development on five continents. For more information, visit www.hyatt.com.
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