The $320 million tallest single-use hotel in North America is located at 1717 Broadway.
NEW YORK and BETHESDA, MD. – Marriott International, Inc. and G Holdings announced the opening of an iconic addition to the New York City skyline, a combined 378-room Courtyard hotel and 261-suite Residence Inn hotel in Midtown Manhattan. The $320 million tallest single-use hotel in North America is located at 1717 Broadway. Built and owned by G Holdings and managed by Interstate Hotels & Resorts, the dual-branded hotel will provide employment for 160 associates in the New York area.
The impressive 68-story building is just steps from Central Park and Times Square. The hotels offer guests convenient access to Carnegie Hall, the Broadway Theater District, Fifth Avenue, Rockefeller Center and Radio City Music Hall. As one of the top travel destinations in the world, New York City welcomed 54.3 million visitors in 2013.
“This opening is a prime example of an ideal dual-branded hotel. Thank you to our long-time partner, Harry Gross and his family, this will surely be both brands’ crown jewel,” said Janis Milham, senior vice president of Modern Essentials and Extended Stay for Marriott International. “The new hotels’ contemporary designs and stunning views coupled with our friendly associates will surely make the property a great ambassador for the bustling city.”
Ideal for visitors to New York City, the hotels offer valet parking and share 6,000 square feet of meeting space, a fitness center located on the 35th floor with floor-to-ceiling windows and an outdoor sundeck for stretching, relaxing or seasonal sunning. Some guest rooms also feature floor-to-ceiling windows offering spectacular views of Central Park, Times Square and the Hudson River.
“We brought the first Courtyard by Marriott to Times Square, in the center of Manhattan in 1998, and these new hotels, the Residence Inn Central Park and Courtyard by Marriott Central Park, are the most innovative hotels we’ve built to date,” said Harry Gross, President & Chief Executive Officer of G Holdings.
“In addition to fabulous views, a stellar New York City location and amenities galore, our 21st century telecommunications, with free international phone calls, digital systems and hi-tech wiring, set these hotels far above the standard that business travelers and tourists expect. We are proud to introduce these spectacular hotels to New York City,” Gross added.
Whether traveling on business or pleasure, guests will enjoy the complimentary Wi-Fi throughout the hotel. In addition, each room delivers 1.25 gigabytes of bandwidth with horizontal and vertical fiber optical cable network that allows for fast, extensive use on multiple devices at one time. Smart TVs offer 60 HD channels.
Groundbreaking artwork, which includes breathtaking sculptures to full wall murals throughout the hotel by renowned abstract expressionist artist, William DeBilzan creates a unique, new experience for travelers staying at the hotel. The artwork traverses five floors of the hotel and is inspired by New York City, as well as themes of love and life.
Marriott Sells London EDITION
Also, Marriott International, Inc. announced it has sold the London EDITION, and signed binding agreements for the sale of two other company-owned EDITION hotels currently under development in Miami Beach and Manhattan. The total purchase price for the three EDITION hotels is approximately $815 million, roughly equal to the aggregate estimated total development costs of all three hotels. The hotels will each be operated by Marriott under long-term management contracts with their new owners, which are companies ultimately owned by the Abu Dhabi Investment Authority.
The London EDITION opened in September 2013 and was conveyed to its buyer today. The Miami Beach EDITION and the New York EDITION are under construction and expected to open in the second half of 2014, and the first half of 2015, respectively. Marriott expects to convey each hotel individually to the new owner after construction is complete. The Miami Beach and New York purchase prices are fixed; development costs in excess of the agreed purchase price will not be recovered.
“The sale of all three company-owned hotels is a powerful endorsement of our EDITION brand,” said Arne Sorenson, president and chief executive officer of Marriott International. “This transaction is a key component of our strategy to build the EDITION brand by selectively developing spectacular, brand-defining hotels in gateway cities. We look forward to managing these hotels for many years.”
The residential component of the Miami Beach EDITION was not included in this transaction. Marriott will retain ownership of the residential units pending their sale to individual purchasers.
EDITION Hotels, launched by Marriott in partnership with Ian Schrager, combines the intimate, individualized and unique lodging experience for which Ian Schrager is known, with the global reach, operational expertise and scale of Marriott. Other EDITION hotels are planned for Los Angeles; Abu Dhabi; Sanya, China; Gurgaon, India; and Bangkok.
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She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
