The Grand Hyatt hotel was Donald Trump’s first big development in Manhattan. It’s been through several rounds of renovations. In the early 2000’s it was fairly run down, but I could regularly Priceline it for about $75.
Hyatt Stay Certificates used to be an amazing value here, too, I once booked 22 rooms nights at $169 all-in when the rate was running $469 to $519 per night plus tax.
The hotel has gotten investment a couple of times since then. The best thing about the property is that it’s often available less expensively than other full service properties in the area. Indeed searching for a room later in the month it was pricing at $171. The second best thing is the club lounge which features a large outdoor seating area.
Now the Grand Hyatt New York is now slated to be torn down although timing for the project is unclear and requires government approvals.
- Hyatt has a 100 year lease on the property that runs through 2077. That will be sold to an investment group.
- A new 2 million square foot project will be built including offices, retail, and a much smaller hotel.
- The hotel will go from 1,298 rooms and 60,000 square feet of meeting space to 500 rooms and 10,000 feet for meetings.
Displaced workers will get a buyout, “A room attendant with 30 years of experience could receive more than $214,000 in cash, plus additional pension credits”
It’s a big busy hotel that’s going to be a lot smaller in the future. I’ve stayed here many times always as a compromise because it was the best deal, so on that score I’ll miss the option if not the hotel itself.