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Navika Group of Companies Acquires 253-Room Andaz Wall Street in New York

Navika intends to invest approximately $5 million into the hotel, which has rebranded to Hyatt Centric Wall Street New York

NEW YORK (January 18, 2022) — Navika Group of Companies, a self-advised commercial real estate company, and Blue Sky Hospitality Solutions (BSHS) Management Company, one of the leading and fastest growing operators in the United States, today announced the acquisition of Andaz Wall Street, which has rebranded to Hyatt Centric Wall Street New York. The hotel plans to resume operations and begin welcoming guests on January 26, 2022, bringing a modern lifestyle hotel experience to Lower Manhattan. The hotel features a design that offers a vibrant, playful interpretation of the iconic city in which it resides. The property’s guestrooms were modernized in 2019, and the lobby was recently enhanced to reflect the contemporary design of the Hyatt Centric brand. Navika plans to invest approximately $5 million to further reimagine the property over the next several years.

Rebranding Andaz Wall Street to Hyatt Centric Wall Street New York was a strategic decision based on the hotel’s location in the heart of the world’s most exciting city, a key brand differentiator for the Hyatt Centric brand, which is known to embrace the locale and inspire exploration. The hotel is ideally situated at 75 Wall Street and offers a premier location for savvy travelers to discover the best that New York City has to offer with premium lifestyle accommodations in the heart of Wall Street.

“The competitive advantages provided by Hyatt Centric Wall Street New York, our first hotel in New York City, make it an ideal addition to our current portfolio of 53 owned and operated hotels throughout the U.S.,” said Ernie Catanzaro, executive vice president with oversight of the management team, BSHS. “The hotel has some of the larger rooms in New York City, ranging in size from 345 to 1,500 square feet, as well as an unmatchable location and address. Our planned multimillion-dollar renovation will reinforce the hotel among the most desirable locations in New York City.”

Upon entering the lobby, guests will be introduced to a modern design aesthetic wherelarge scale artwork from local artists captures the essence of downtown New York City while textured layers with pops of color will offer points of interest throughout the public spaces. The 253 guestrooms combine upscale, modern comfort with layers of tactile discovery and offer walk-in rain showers, hardwood floors and 12’ foot ceilings with oversized windows. In addition, guestrooms will feature shareworthy art and styling elements that celebrate the character of the destination and signature brand amenities including a cozy, Hyatt Centric bathrobes, exclusive Beekind® high-end, socially conscious bath amenities, and a Drybar® hair dryer in each guestroom.

On January 26, the hotel will also celebrate the re-opening of the Wall & Water restaurant, an open-air eatery concept serving breakfast and dinner, which will be led by New York chef and food and beverage director Alan Ashkinaze. Hyatt Centric Wall Street New York will also provide a new dining experience that will serve as the social center of the hotel and a destination that will meet every guest’s needs. The property also offers more than 10,000 square feet of meeting event space to accommodate groups of all sizes.

Hyatt Centric Wall Street New York will be led by veteran industry expert David Cohen, who has been named as the hotel’s general manager. Cohen joins the property team having led luxury properties such as the Five-Star Hotel Plaza Athenee, and The Ritz-Carlton, Waldorf Astoria and Four Seasons in New York.

To book a reservation or for further information, please visit hyattcentricwallstreetnewyork.com.

Guided by its purpose of care, Hyatt’s multi-layered Global Care & Cleanliness Commitment further enhances its operational guidance and resources around colleague and guest safety and peace of mind. More information on Hyatt’s commitment can be found here: hyatt.com/care-and-cleanliness.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

Navika Group of Companies

Headquartered in Uniondale, N.Y., Navika Group of Companies Navika Capital Group is a self-advised commercial real estate company. The company invests its capital primarily in income producing and cash flow generating assets comprised of limited and full service hotels, office buildings, shopping centers and multi-family housing.

Blue Sky Hospitality Solutions

Blue Sky Hospitality Solutions is a trusted partner that provides development, management, revenue management services, asset management, renovation and consulting services. The company has the experience, talent and resources of a large company while providing the access to senior leadership, flexibility and focus of a small company. BSHS works with each of its owners/partners to understand short- and long-term objectives, creating unique plans to deliver results that move the business onward and upward.

Hyatt Centric

Hyatt Centric is a brand of full-service lifestyle hotels located in prime destinations. Created to connect guests to the heart of the action, Hyatt Centric hotels are thoughtfully designed to enable exploration and discovery so they never miss a moment of adventure. Each hotel offers social spaces to connect with others in the lobby, meanwhile the bar and restaurant are local hot spots where great conversations, locally inspired food and signature cocktails can be enjoyed. Streamlined modern rooms focus on delivering everything guests want and nothing they don’t. A passionately engaged team is there to provide local expertise on the best food, nightlife and activities the destination has to offer. For more information, please visit hyattcentric.com. Follow @HyattCentric on Facebook and Instagram, and tag photos with #HyattCentric.

Forward-Looking Statements

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SOURCE: Business Wire