Looking to add a bit of sizzle to the food offerings at his Gramercy Park Hotel, Ian Schrager is tapping renowned restaurateur Danny Meyer for the job.

This fall, Mr. Meyer will unveil an Italian eatery in the street-level space where Waikiya—a Chinese restaurant that closed in December—was located. Mr. Meyer’s Union Square Hospitality Group will also operate room service at the hotel.

It is Mr. Meyer’s first new restaurant since he opened The Modern at the Museum of Modern Art in 2005, and it is his first hotel project.

“I’m very intrigued by the opportunity to create a destination breakfast place for this neighborhood,” said Mr. Meyer. “I love going to the Coffee Shop in Union Square, but it shouldn’t be the only option within this zip code.”

The hotel operates the celebrity hangouts Jade Bar and Rose Bar, both of which are just off the lobby and will continue to do so. But USHG will take over operating the Private Roof Club and Garden on the 16th floor of the property.

“I originally approached Danny about operating the restaurant when we reopened the hotel in 2005,” said Mr. Schrager in a statement. “But he was focused at the time on opening up the Modern.”

Mr. Meyer’s ties to the hotel date back to 1994 before Mr. Schrager owned the property. The restaurateur rented two banquet rooms in the hotel to use for training his staff several weeks before he opened Gramercy Tavern.

“It’s funny to me that this won’t be our first engagement with this hotel,” said Mr. Meyer.