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Hyatt Hotels and Extell Development to Build New 54-story, 487-room
Hyatt Times Square in New York City


NEW YORK (August 30, 2011) –Extell Development Company announced today that it will construct a new 54-story hotel, Hyatt Times Square, in New York City that is slated for completion in 2013.  An affiliate of Hyatt Hotels Corporation has signed a long-term agreement to manage the property.
 
Hyatt Times Square will be ideally located in the heart of Manhattan’s famed Theater District.  The hotel will feature an innovative exterior design by prominent architectural firm SLCE and beautiful interior spaces by SPaN of New York.
 
Standing at 550 feet high, this 4-star hotel, will offer 487 luxurious guestrooms, including 26 deluxe rooms and 49 suites. Amenities will include a lobby bar, three-meal restaurant, rooftop terrace, Sky-lounge, and meeting space with an oversized adjacent terrace. Other services will include a six-treatment room Hyatt Spa and StayFit@Hyatt fitness center.
 
Situated on West 45th Street between Broadway and 6th Avenue, the hotel will appeal to the needs of business and leisure travelers alike.  Its convenient midtown location will provide easy access to the nearby commercial business district and cultural attractions such as Broadway shows, Radio City Music Hall, Rockefeller Center, Bryant Park, and The New York Public Library. Guests will also enjoy close by landmarks such as the Empire State Building, Central Park, Carnegie Hall, and Madison Square Garden.
 
“We are eager to complete the construction of Hyatt Times Square” said Gary Barnett, President of Extell. “This unique hotel offering will provide travelers convenient access to some of New York’s most iconic and popular destinations.”
 
The Hyatt hotel brand, one of the seven brands in the Hyatt Hotels Corporation family of brands, is a full-service hotel brand designed with the individual traveler in mind. Subsidiaries of Hyatt Hotels Corporation manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt Summerfield Suites® brand names and have locations on six continents. As of June 30, 2011, the Company’s worldwide portfolio consisted of 456 properties in 44 countries. For more information, please visit www.hyatt.com.
 
About Extell Development Company
Distinguished by innovative thinking and meticulous attention to design, Extell Development Company was founded by President Gary Barnett in 1989 and is now one of the country’s leading developers of residential and commercial properties. A company whose very name was forged from the words “Excellence” and “Intelligence,” the company delivers superior product and enduring value through flawless detail and extraordinary craftsmanship.
 
Extell has re-envisioned and developed a significant number of residential properties in New York City including the former Stanhope Hotel at 995 Fifth Avenue opposite the Metropolitan Museum of Art; 31 West 11th Street in the heart of Greenwich Village; Altair 18 & Altair 20 located in the historic Ladies Mile District; Ariel East and Ariel West in the West 90’s and the Orion on the far West Side. Extell recently completed the Lucida, the Upper East Side’s first LEED certified condominium, as well as 535 West End Avenue which offers pre-war style with 21st Century luxuries.
 
Extell is currently developing Riverside South, a vibrant new neighborhood along the Hudson River on Manhattan’s Upper West Side. To date, it has masterminded design and ground-up construction for The Avery, The Rushmore, The Aldyn and The Ashley. 
 
Extell is also developing the International Gem Tower, Manhattan’s new state-of-the-art industry center designed specifically for the global diamond, gem and jewelry trades.  In 2011, Extell will unveil its flagship hotel and condominium project, 157 West 57th Street, featuring the Park Hyatt New York luxury hotel.  A team of world-class talent has been assembled to craft a striking glass tower that will transform the skyline of New York and create a new paradigm for luxury properties in the city.
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Contact:

Rubenstein Associates
Anna LaPorte
(212) 843-8048
alaporte@rubenstein.com


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