The new Hyatt Hotel Gary Barnett’s Extell Development Company is building in Times Square will have 54 stories, 487 rooms and is expected to be completed in 2013, Hotels Magazine reported. The hotel will rise 550 feet at 135 West 45th Street and will be designed by SLCE to feature a rooftop terrace and sky lounge. As The Real Deal previously reported, Barnett sold the site to HHS TS REIT LLC in a deal that closed in July, but remained the developer of the hotel. Barnett had originally intended to build a 50-story condominium and hotel, according to plans presented to the community board in 2007.
By the time the Times Square Hyatt is built, three other Hyatt hotels will have opened in Manhattan. Hersha Hospitality Trust just opened a Hyatt near Lexington Avenue and 48th Street and plans to open another at 132 Fourth Avenue in Union Square next fall. Meanwhile Extell plans to unveil another Hyatt later this year at 157 West 57th Street called the Park Hyatt. [Hotels Mag]