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Hyatt Hotels Corporation : Hyatt 48 Lex Opens on Lexington Avenue in Midtown Manhattan

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10/17/2011 | 07:30pm CEST

NEW YORK (October 17, 2011) – Hyatt 48 Lex, a boutique hotel property on Lexington Avenue opened recently, offering sophisticated pied-a-terre studios and suites with a distinctively welcoming atmosphere. This new build from Hersha Hospitality is the first luxury property in the group’s portfolio with 116 studios and suites.

Hyatt 48 Lex emphasizes warmth, a focus on the local neighborhood and extraordinary service standards. Guests are greeted warmly at curbside and escorted directly to their rooms, as though welcomed into the Manhattan home of a close friend.

“We have taken inspiration from the best of New York City and brought it to life in the design, style and service at the new Hyatt 48 Lex,” said Mark Wagner, General Manager of Hyatt 48 Lex. “We are very proud to welcome guests to see the hotel this fall, and are excited to be part of this vibrant neighborhood.”

The Heart of the Hotel

Hyatt 48 Lex changes the hotel landscape by introducing the warm and comfortable Lexicon Lounge located on the second floor and open daily for all guests. The heart of the hotel, Lexicon Lounge is a setting to relax and rejuvenate with comfortable furnishings and complimentary beverages and snacks, including daily selections by the Pastry Chef. Breakfast, lunch and dinner menus are available from the on-site restaurant, Lexington Brass, to enjoy in Lexicon Lounge. Hosted wine-and-cheese tastings for all guests are available each evening along with a collection of coffee table books from Assouline are at hand for guests to peruse; iPads® are available for guests to borrow; and Lexicon Lounge will be the scene of events including book signings and fashion previews. Open daily from 6:30 a.m. to midnight, two staff members and the concierge are available for conversation and local advice. 

Lexicon Lounge overlooks one of the hotel’s green roofs arrayed with Japanese Maples and Boxwood bushes. The rooftops and six landscaped terraces offer a natural complement to the Manhattan streetscape and are further evidence that Hyatt 48 Lex stands apart.

Suites and Studios

The newly minted hotel features 116 studios and suites fit for discerning travelers that crave the air of a private club, appreciate contemporary design, and seek an elegant Manhattan address. The hotel was designed by renowned architect Nobutaka Ashihara with interior design by Paul Vega and Vennie Lau of VLDG. The studios and suites offer a soothing warm gray color palette with elegant elements including original artwork, woven carpets, tables made by a Brooklyn woodworker, custom duvets, 37-inch flat panel TVs, Assouline books, iPod docks and of course, the renowned Hyatt Grand Bed®. Layouts are gracious, bathrooms are stylish, and views of Midtown Manhattan through floor-to-ceiling walls of glass are as stunning as the city below. Hyatt 48 Lex offers a unique art program in the studios and suites with pieces by New York-based photographer, Kelly Neal and vintage sheet music and magazines layered with acrylic on canvas by New York City artist, Susan Reedy.

Each studio and suite also features a butler’s pantry with treats beyond traditional minibar fare, including wines like Marcarini Barolo Brunate and Terrabianca Campaccio which are also served in Lexicon Lounge – each available for sampling by the half-bottle. The butler’s pantry is stocked with locally sourced snacks, from Brooklyn Beer and Zico Water to Jacques Torres Chocolate Covered Marshmallows; Dean and Deluca Hickory Smoked Almonds to North Fork Potato Chips.

A pair of dramatic Penthouse Suites will debut later this fall, each with terraces perched above skyline views.

Guests seeking spa pleasures can enjoy Hyatt 48 Lex’s Suite Spa Program in the comfort of their studio or suite inspired by the wines with treatments like the two-hour “UnKnot” as well as massages, manicures, and facials.

Lexington Brass

The latest culinary incarnation from EMM Group, the team behind Abe & Arthur’s Restaurant, also recently opened its doors to Lexington Brass at Hyatt 48 Lex.  The 100-seat American bistro is located on the ground level featuring classic American bistro fare. Patrons are treated to sophisticated favorites from a menu of fresh, locally sourced, sustainable dishes. Highlights from the breakfast menu include jam-filled pancakes with berries and lemon cream and a Spanish scramble with chorizo, rock shrimp and hash.  For lunch, midtown moguls can indulge in a sirloin steak sandwich with truffle fries, or opt for lighter fare with grilled shrimp & couscous or yellowfin tuna ciabatta with avocado & tomato jam.  For dinner, guests can enjoy a range of options from buttermilk fried chicken and biscuits to sweet corn ravioli with chanterelles to spicy fluke ceviche with watermelon. Lexington Brass also offers a thoughtful beverage program, which includes kombucha tea, three local wines and four local beers on tap, including one signature lager which was crafted and brewed in EMM Group’s name.

Meetings and Amenities

Located near Lexicon Lounge on the second floor, the hotel has four private executive board rooms for meetings of eight to 12 people and executive retreats. All meeting rooms have floor-to-ceiling windows and access to Lexicon Lounge and the Alcove, a space for relaxing or taking phone calls, all on the same floor. Each is styled with Herman Miller chairs equipped with the latest audio and video conferencing technology, high definition flat panel TVs, connectivity panels in breakable boardroom tables and integrated audio/video controls plus a wireless Crestron system that controls all multimedia including lights and drapes. Through the wireless Crestron touch panels, guests can control all audio and video, lighting and shades and more without being tied to a chair or conference table. There are iPod® connections and individual climate controls throughout, and one room is equipped for video conferencing. Catering is by Lexington Brass and lunch menus include a “Slider Cart” or “Sandwich Shop” while “Afternoon Delights” range from the “Sugary” to “Munchy” to “Skinny.”

Hyatt 48 Lex also offers a Business Workstation on the second floor adjacent to the meeting rooms and a state-of-the-art fitness studio – both open 24 hours.

Rates & Reservations

Nightly rates at Hyatt 48 Lex start from $499. For more information or to make reservations, phone 212.838.1234 or visit www.48lex.hyatt.com.

About Hyatt 48 Lex

Hyatt 48 Lex emphasizes warmth, a focus on the local neighborhood and extraordinary service standards to fulfill the needs of modern travelers. Located in Midtown East in Manhattan within walking distance of many iconic New York City destinations, Hyatt 48 Lex has 116 spacious “pied-à-terre”-style guest studios and suites with smart details from kitchenettes with pantries stocked with local snacks (like Jacque Torres and Brooklyn Beer) to beds positioned for floor-to-ceiling views of Lexington Avenue. The Lexicon Lounge stands in for a typical “lobby,” with complimentary homemade snacks throughout the day, comfortable furniture for relaxing, a fireplace, evening wine tastings with selections hand-picked by the General Manager, and a library of Assouline coffee table books. The New American bistro, Lexington Brass, offers creative twists on classics and also caters the food for in room dining and meetings. There is a 24-hour access fitness studio, in-room spa treatments and four Boardrooms with iPod® connections and Herman Miller Chairs. www.48lex.hyatt.com

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Financials ($)
Sales 2017 4 694 M
EBIT 2017 317 M
Net income 2017 159 M
Debt 2017 1 209 M
Yield 2017 -
P/E ratio 2017 44,82
P/E ratio 2018 39,20
EV / Sales 2017 1,80x
EV / Sales 2018 1,73x
Capitalization 7 241 M
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Mean consensus HOLD
Number of Analysts 22
Average target price 59,0 $
Spread / Average Target 2,2%
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Mark Samuel Hoplamazian President, Chief Executive Officer & Director
Thomas J. Pritzker Executive Chairman
H. Charles Floyd Global President-Operations
Patrick J. Grismer Chief Financial Officer & Executive Vice President
Rich Alan Friedman Independent Director
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