There was talk by Goldpassport customer service earlier this year that Beijing would have a Park Hyatt during 2H'03. But for goldpassport members (especially Diamond) Hyatt service is generally superior to Hilton or Starwood. I myself have logged 100 nites last year, but divided between the three properties usually for lack of Hyatt presence overseas (e.g. Beijing and UK and other selected tourist/business cities in Europe). So it is good to see Hyatt Hotel Planning dept taking opportunity to respond to member feedback and open a BRAND-NEW Grand Hyatt property in Beijing (see hyatt website) that is within walking distance of Tianmen Square and Forbidden City. Since this seems like it's a last minute opening (no advanced notice in July-August newsletters), Hyatt must have taken over management/ownership of a newly completed luxury business hotel from another business group. Probably the announcement of Beijing 2008 Olympics in August pushed Hyatt management to accelerate timetable of Hyatt presence in Beijing.

Note - rate is $158 USD for standard room (UA 50% hotel voucher = $130 USD). If you're a Diamond (or Platinum with regency club upgrade voucher), you should be able to have high probability of receiving free use of their Regency Club (also called Grand Club)