The world's best new hotels

Hundreds of hotels open their doors each year, but how many open your eyes? Travel Leisure's Guide to the best new hotels showcases the newcomers that are redefining service and design -- and even the way we travel.

Gramercy Park Hotel, New York City
Gramercy Park Hotel, New York City
A classic is reborn as New York's hotel of the moment, thanks to an A-list design duo.

Location: Manhattan's genteel and historic Gramercy Park. (Think Edith Wharton -- she used to live in this neighborhood.)

Pedigree: The old Gramercy had a literary reputation and a gilded past; the new one has Ian Schrager and the artist Julian Schnabel, whose eclectic interior here is a radical departure from the cool minimalism of the boutique hotels Schrager is known for.

Style Design: Haute bohemian. Velvet draperies and leather armchairs share space with surrealist objects (sawfish-snout lampstands!) and sprawling canvases by Andy Warhol and Cy Twombly. Rooms and corridors are underlit, but the woodsmoke-scented lobby, with its 10-foot fireplace and thick Douglas fir columns, is a winner.

Service Amenities: Keys to Gramercy Park, the only private park in Manhattan, are available for guests at the front desk. Mahogany liquor cabinets stocked with full-size bottles trounce your typical mini-bar.

Rooms to Book: The spacious Park Rooms (550-square-feet) feature French doors and wonderful views of Gramercy Park. For a truly lavish getaway, inquire about the Penthouse, which has soaring rooftop and park vistas, an original Sanford White fireplace and mantle, and antique furnishings.

2 Lexington Ave.; 212/920-3300; www.gramercyparkhotel.com; doubles from $545.

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.