Hyatt And Hersha Strike Deal For Two Manhattan Hotels

CHICAGO – Hyatt Hotels Corp. announced that a Hyatt subsidiary and Hersha Development Corp. signed long-term franchise agreements for two newly built hotels in Manhattan scheduled to open in 2011.

The Hyatt-branded full service properties developed and owned by Hersha and managed by its affiliate, will include a 175-room hotel in Greenwich Village, near Union Square, and a 116-room contemporary hotel in Midtown Manhattan that will be called Hyatt 48Lex.

In the past year, Hyatt opened Andaz Wall Street and Andaz 5th Avenue, which joined the Grand Hyatt New York in Manhattan.