Hyatt Places' living room beds are not the pull-out kind per se, but as large banquettes (sp?) they are a comfortable "bed" to sleep on. I've inadvertently discovered this when my priority was to watch TV, when watching TV or lying/sleeping on the real bed was an either/or proposition (when you can't turn the flat screen far enough toward the bed). But back to the question, they're much better than the "classic" sofa bed.
[I have no connection with Hyatt, except as a customer.]