Sunday, October 2, 2011

Extell To Build New 54-Story Times Square Hyatt

Good news for the New York hotel scene: Extell Development Co. will construct the new 54-story Hyatt Times Square in New York City, slated for completion in 2013. Follows the recent news that Marriott is currently building the city's tallest hotel.

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.

This follows Friday's announcement that Marriott International and Granite Broadway Development will develop New York City's tallest hotel complex. (See ElectricWeb | Blogger: October 1, 2011)
Extell Development sold the site to Hyatt in a deal that closed in July, but remained the developer of the hotel. Mr. Barnett had originally intended to build a 50-story condominium and hotel, according to plans presented 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 the Park Hyatt - which is presently under construction - at 157 West 57th Street later this year. (See ElectricWeb | Blogger: July 30, 2011)