Hyatt LOI for casino project near Javits

NEW YORK CITY – While the hotel world waits for news about Hyatt Hotels Corp. selling off the real estate on its recently completed acquisition of Playa Hotels & Resorts, it has signed a letter of intent with the developers of a casino project near New York City’s Jacob K. Javits Convention Center on the far west side to soft brand the hotel component with Destination by Hyatt.

Silverstein Properties, Rush Street Gaming and Greenwood Gaming and Entertainment want to add the Hyatt soft brand to The Avenir, a mixed-use entertainment and casino complex that, if approved, would include 1,000 rooms and suites. The news comes as the June 27 deadline for casino license applications approaches.

Eight developers remain in the bidding for the project after Related Companies, Oxford Properties and Wynn Resorts pulled out.

With its proximity to the Javits Center, The Avenir is expected to significantly enhance the convention industry and create economic synergy between gaming, business tourism, and hospitality, according to the project’s backers.

If awarded an operating license, the project on 92,000 square feet of undeveloped land at 41st Street and 11th Avenue would include a nine-story podium containing the casino, F&B, a 150-seat entertainment venue, conference and meeting spaces, a spa and an outdoor pool.

The Avenir recently announced a partnership with Union Square Hospitality HQ as a workforce training and development partner in the hospitality and culinary areas. The complex will include five restaurants featuring concepts from Danny Meyer’s Union Square Hospitality Group, STARR Restaurants founded by restaurateur Stephen Starr, among others.  There will also be a 700-seat food hall with offerings from local establishments.

The Avenir also plans to implement workforce development programs in New York City inspired by Hyatt's workforce initiatives. Hyatt properties have previously worked with NYC Employment & Training Coalition, The Doe Fund, and the CUNY Hospitality Hub.