Hyatt is planning to open an Andaz branded fractional in New York.

Crains New York Business reports:

"The 42nd St. Andaz hotel will offer fractional ownership units on the top floors."

"If the fractional units (known as time shares) in the Midtown property don’t sell, Hyatt will simply use them as hotel rooms, said Mark Hoplamazian, chief executive of Global Hyatt Corp."


(It's not clear if the "known as timeshares" entry is an editorial by Crains or is actually the words used by Mark Hoplamazian.)

The author, Lisa Fickenscher, was actually at fault here. I wrote a blog on it in fact a couple of weeks ago. She has since written me back and apologized - simple mistake and lack of knowledge of the industry.
Blog is here: www.piercegroupllc.com/fractionalblog/20...hip-still-an-infant/