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Hyatt Hotels Corporation has announced plans to introduce the luxury Park Hyatt brand to New York city.
Due to open in 2012, Park Hyatt New York will be housed in a 90-story mixed-use tower with views of Central Park.
Steve Haggerty, global head of real estate and development for Hyatt, said the new hotel will be a “milestone” for the growth of the Park Hyatt brand.
“New York is such a critical market,” said Haggerty, as it is "one of the world’s greatest business, financial and cultural centres”.
"Representation in a key market" and "global visibility" are “two key drivers of brand preference for guests and owners alike”, he added.
Located at 157 West 57th Street, near Carnegie Hall, the new-build hotel will be designed by Pritzker Prize-winning architect Christian de Portzmparc.
Park Hyatt New York will have a spa, fitness centre, swimming pool, bar and restaurant, as well as meeting facilities, including a ballroom.
There are currently 25 Park Hyatt properties globally, with a further 12 under development.