High price, lots of flash--lacks a lot.
I was surprised at the level of ineptitude exuded by the staff at this location. Sadly, that’s only one of the many problems at this hotel. Check-in was the first stumbling block during our stay.
There were four of us, and we booked one room with two queen beds. Our reservation clearly stated the number of people we had in our party and that we had reserved a room with two queen beds. While the gentleman at the reception desk was very kind, he was not tuned into his job. It seems that he glazed over the details of our reservation.
After getting our keys, we waited at the elevator bays for a good chunk of time for one of the five elevators to make its way to the lobby. Once we boarded the car we stopped on every floor, all the way up to the 24th floor, and that was the case during our entire stay. While it is understood that the hotel employees cannot control elevator traffic, there is definitely a bottleneck in traffic when it comes to using the lifts. If you stay here be prepared to spend 10-15 minutes waiting for, and riding on, the elevators. 
When we finally got to our room, it only had one king bed. There wasn’t a pull out sofa, either. I called down to the folks at the reception desk to advise them of the issue, and the person that I spoke to didn’t understand what the issue was. I explained to her that we had reserved a room with two queen beds, but the room that we were given only had one king bed, and we were four people. The logistics were going to work. She still didn’t understand. After a few times of explaining what the issue was to the woman on the phone, she then asked me, “So…you want another room?” Finally, she got it.
When we made the 10 minute journey back to the lobby, we were told that there were no rooms with two queen beds available. Given that I had reserved and prepaid for a room with two queen beds, I was a little put out by this new information. How is it that a hotel will “book” a room for you, take your money, and then not have the room for you when you arrive? Not a good way to get repeat guests, that’s for sure. 
The hotel’s solution to our issue was to either, go to another hotel, or rent a second room from them at the discounted rate of $399.00 per night. At that point, it was all I could do to keep my cool. After we had already paid over $500.00 for a room with two queen beds, we arrive at the hotel to find not only do we not have the room that we reserved, but now it was going to cost us an additional $400.00+ because of the hotel’s error—how convenient. Considering our prepaid room was non-refundable it was going to cost us just as much to stay at another hotel than it would have been to stay at the Grand Hyatt, so reluctantly, we took the second room. It was a rock and a hard place situation, for sure.
After wasting an hour dealing with the room debacle, we were told that the second room would not be ready until 4:00 PM—another strike for the Hyatt. Completely perturbed at the situation, we returned to the room on the 24th floor to freshen up and make the best of the rest of the day.
When we returned to the hotel that evening, it became apparent that this location placed all of its cash into flash and glam and in doing so missed a great deal of the creature comforts that most hotels have. 
First and foremost, we did not have a coffee maker in our room. I have stayed at hotels that were less than $100.00 a night, and there was a coffee maker in the room. 
To add to our experience, the water temperature was not stable. When showering or washing ones hands, the water would fluctuate from cold to near scalding. The bed linens were worn, and the pillows were very small. They were almost akin to European throw pillows. They were not pillows that belonged on a queen or king bed.
Lastly our rooms did not have alarm clocks or radios. Again, someone that should be a given at a hotel like the Hyatt. Everything considered our stay was very underwhelming. While this hotel is conveniently located, there are many other hotels in NYC that have rooms at similar prices, have better amenities and better skilled staff.