One57’s Park Hyatt aiming for five stars

A NYC hotel hasn't received a five-star rating since 2003

New York /
Jul.July 06, 2014 05:00 PM

 Hyatt Hotels is hoping to make its Park Hyatt New York, which is opening next month at the base of One57, Manhattan’s first new five-star hotel in nearly a decade.

Plans for the Park Hyatt call for 210 guest rooms starting at $795 a night, with amenities such as an indoor pool with underwater speakers that pipe in music from neighboring Carnegie Hall, according to Bloomberg News.

“There’s a fairly deep demand for this level of luxury,” Steve Haggerty, global head of real estate and capital strategy for the Chicago-based company. “It’s very difficult to replicate in New York City, and there’s a certain barrier to entry.”

If Hyatt receives a five-star rating it would be the city’s first hotel with the coveted distinction since 2003, when the Mandarin Oriental opened in the nearby Time Warner Center.

“New York City is just hot,” said Jan Freitag, senior vice president at Hendersonville, Tennessee-based STR. “It’s expensive and is at this perfect intersection of transient business demand, group and leisure, and international demand. Everyone wants to come to New York.” [Bloomberg News]Christopher Cameron


Related Articles

arrow_forward_ios
Robert Herjavec and One57 (Getty, Beyond My Ken/Wikimedia)
Robert Herjavec buys One57 condo at $13M discount
Robert Herjavec buys One57 condo at $13M discount
Extell's Gary Barnett and One57 (Getty)
One57 is 90% sold: Extell announces Q1 sales
One57 is 90% sold: Extell announces Q1 sales
Extell sells One57 sponsor unit for $17M
Extell sells One57 sponsor unit for $17M
Extell sells One57 sponsor unit for $17M
One57's unit 51B (left) and unit 32C with Extell’s Gary Barnett (One57 photos via StreetEasy)
One57 resident pays $5.2M to swap 2-bed for duplex
One57 resident pays $5.2M to swap 2-bed for duplex
Extell CEO Gary Barnett pictured with One57. (Extell, One57)
One57 condo sells at record 51% loss
One57 condo sells at record 51% loss
HNA Group’s Guoqing Chen, One57 and  and Gary Barnett (Godsfriendchuck via Wikipedia)
HNA’s fire sale continues with One57 deal
HNA’s fire sale continues with One57 deal
A sponsor unit at One57 lists for $58.5M
A sponsor unit at One57 lists for $58.5M
A sponsor unit at One57 lists for $58.5M
A sponsor unit at Extell’s One57 just sold at a 24% discount
A sponsor unit at Extell’s One57 just sold at a 24% discount
A sponsor unit at Extell’s One57 just sold at a 24% discount
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...