The New York agency beat several other unnamed agencies following a review process, which saw finalist JWT drop out in June before final presentations.
The review was overseen by consultancy Select Resources International in Santa Monica, California.
Chicago-based incumbent, Cramer-Krasselt, an independent agency, will continue to work on the creative business for the Hyatt Place and Hyatt Summerfield Suites accounts. It recently launched a $15m campaign push for those properties, which were not part of the global review.