Is This The Most Expensive Hotel Room Ever?


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The Park Hyatt New York City recently opened with it’s grand debut on August 19th. The hotel has 210 rooms, including 92 suites, all with floor-to-ceiling windows. Nightly rates for a standard room start at $795 to $1,295.

Park Hyatt New York

The Wall Street Journal reports that

“Hyatt has high expectations for this property, which occupies the first 25 floors of a new 1,004-foot luxury condo tower. The company said last week it purchased the hotel from Extell Development Co. for $390 million. That comes to nearly $1.9 million a room—one of the highest prices ever spent on a hotel and the most that Hyatt, by this metric, has ever spent on a property.

“I can’t think of anyone who has spent as much on the construction of a new hotel,” says Ryan Meliker, a hotel analyst with MLV & Co. “They believe this property will help market the Park Hyatt brand, and not just domestically but globally.”

Bottom Line
I can’t wait to try out the Park Hyatt New York, but as a Category 7, 30,000 Hyatt points is a lot but to spend, but for a room that cost almost $2 million dollars to complete I think it might be worth it. However, there is no points availability at this time as they are still completely some of the rooms so expect to shell out over $600 if you want to stay here in the interim.

Editorial Note: Opinions, analyses, reviews or suggestions expressed on this site are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This post was accurate at the time of posting. For details on current offers visit the card issuer’s site.

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Comments

  1. You are kidding right? The room naturally did not cost $2million. In NYC the land is by far the most important factor in construction cost, if you are expecting to see $2million worth of stuff in the room you are in for a big big disappointment.

  2. Miguel – I think the point is that if they are spending $2M per room on the real estate side, they aren’t going to be shy about spending an exta 10-20k on each room to make it prestigious and perfect. I don’t think anyone is thinking there will be gold toilets, but a premier experience would be expected.

  3. $600 for a night in New York is not THAT far unreasonable esp considering its a high end property and above the standard room type at that rate.

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