Global Hyatt Corp.'s entry into the midpriced market becomes official Thursday when the Chicago-based company opens the first of its Hyatt Place properties, located in Lombard.

The company is spending more than $200 million to transform its recently acquired AmeriSuites chain into a sleek-but-homey product aimed at the tech-savvy Generation X customer. More than 140 additional Hyatt Places are expected to open in 2006 and 2007.

Hyatt is among a number of hotel chains developing midrange products for a youthful market, among them Starwood Hotels & Resorts Worldwide, with Aloft, and Intercontinental, with Indigo.

Rates for redesigned suites, equipped with 40-inch high-definition plasma televisions and free wireless Internet access, are expected to average $110 to $115 a night, up from $75 to $85 a night for an AmeriSuites stay.