Hyatt Plans Two Hotels for Manhattan

Having had just one hotel there for the past 29 years, Hyatt Hotels & Resorts is finally expanding its presence in Manhattan with two new Andaz-brand properties, Crain's New York Business reported this month.

The two new hotels—one opening early next year across from Bryant Park on 41st Street and Fifth Avenue, the other opening in September in the former J.P. Morgan headquarters at Wall and Water Streets—will join Hyatt's only existing Manhattan hotel, the 1,311-room Grand Hyatt.

Although it wasn't reported how much meeting space each property will offer—or how many rooms the Bryant Park property will have—the Wall Street Andaz will have 253 guest rooms, according to Crain's.

"We are bullish on New York," Global Hyatt Corp. CEO Mark Hoplamazian told Crain's.

In addition, the paper reported, the Grand Hyatt will start work this summer on a $12 million makeover of its 18,000-square-foot ballroom.