The Park Hyatt New York - a new five star hotel in Manhattan

Hyatt Hotels has set up a new five-star hotel, Park Hyatt New York. This hotel is situated at the base of One57 condominium tower, West 57th Street, Manhattan. It will open in the month of August 2014.

The Park Hyatt will become the first five-star hotel to be inaugurated in Manhattan in more than a decade. The hotel consists of 25 floors and is present in an area popularly known as the Billionaires Row, as it has residential skyscrapers with apartments costuming millions of dollars.

The hotel has 210 guest rooms, spa suites with personal balconies, and an indoor pool with underwater speakers. The rooms range from 475 to 2239 square feet area, designed to resemble a large apartment, with wooden flooring and floor-to-ceiling windows. The bathrooms contain products from Le Labo and the mirrors possess television screens. There are two restaurants, The Black Room at One57 and The Living Room in the hotel and all of these will be managed by New York's Veritas former chef Sam Hazen. The ballroom walls are coated with back-lit white onyx.

Steve Haggerty, global head of real estate and capital strategy, said that Hyatt is searching for a competitive edge in Manhattan, where it already has seven properties but, none have a five star rating. The new Park Hyatt will become the first five-star hotel since 2003 when Time Warner Center was opened by Mandarin Oriental. From that time onwards the lodging industry of the city has only seen growth in select-service category hotels that provide fewer facilities and have less operational cost. There is a reasonably high demand for this level of luxury.

In the last five years only six hotels considered as luxury have opened in NYC as surveyed by STR, the lodging-research firm. Only 51 projects in the three lower level categories provide select service brands such as Super 8, Best Western, and Holiday Inn.

Daniel Lesser, CEO of LW Hospitality Advisors company based in New York, said that Park Hyatt New York will be the 34th in the world and sixth in North America under Park Hyatt brand. This hotel will fulfill the much coveted five-star component to this hotel chain network.