Hyatt Leads New Wave of Elite Hotels
New York Park Hyatt Set to Open Next Week as Demand Revives for High-End Lodging
In the latest sign that companies are allowing their executives to travel lavishly again, a new wave of luxury hotels is set to open in New York and other major cities as developers seek to cash in on the rejuvenated demand for high-end lodging. Next week, Hyatt Hotels Corp. will open a new flagship for its luxury Park Hyatt brand in midtown Manhattan. The Park Hyatt's 210 rooms will boast an average daily rate of more than $900, putting the New York Park Hyatt in elite company with Four Seasons, St. Regis and Mandarin Oriental as the city's most expensive hotels.