Hainan Airlines parent HNA Group announced Monday that it has decided to drop its bid for Indian developer DLF’s luxury hotel chain Amanresorts as DLF had not replied to its acquisition proposal.

A Malaysian company's plan to build a $4 billion convention center and big-time casino on the outskirts of New York City could be the biggest shot fired yet in a tourism arms race that has seen a growing number of Eastern states embrace gambling as a way to lure visitors and drum up revenue.

New York Gov. Andrew Cuomo announced this month that he would work with the Genting Group, one of the world's largest gambling companies, to transform the Aqueduct horse track into a megaplex that would eventually include the nation's largest convention center, 3,000 hotel rooms and a major expansion of a casino that began operating in October.

With New York City attracting a new high of 50 million tourists in 2011, hotel occupancy approached levels last seen before the market crash. Room rates, however, remained below those pre-crash highs.

MIDTOWN — Booming construction from West 54th to West 36th streets has put the city on track to hit 90,000 hotel rooms by the end of the year — a whopping 24 percent gain since 2006 — and with an additional 7,000 rooms now in the pipeline, there are no suggestions it’s slowing down.

Boutique Hotel Company Affinia Hotels Is #1 in Customer Satisfaction Among Upper Upscale Hotels, According to Market Metrix Hospitality Index

Affinia Hotels, a boutique hotel company with seven properties in midtown Manhattan, Chicago and Washington, D.C., is #1 in customer satisfaction among upper upscale hotels in Q2 (the company scored 94.8 out of 100, up 10 points from 2010 year-end results). This was revealed in the Market Metrix 2011 Second Quarter Hospitality Index, the largest and most in-depth measure of hotel and casino performance available, based on 35,000 customer reviews.

There are roughly 400 million square feet of commercial real estate in Manhattan, an amount equal to more than 9,000 acres. For the last three decades, as the office market grew and matured, brokers and tenants began slicing that space into classes that signaled a building’s amenities and location and, of course, the rent that its landlord could charge.

Traditionally, four classifications are used for office buildings: trophy properties, which are mostly new construction that offer tenants the latest technologies, best locations and most exclusive tenancies; Class A, where the vintage may be somewhat older but the location or landmark architecture demands above-average rents; and Class B, mostly on Midtown side streets or peripheral locations, with average rents, services and building systems.

It's been a good week for CB Richard Ellis' Darcy Stacom and William Shanahan.

The Alaska Permanent Fund has agreed to pay $1,075 per square foot for a 49.5 percent stake they were marketing in 299 Park Avenue, sources told the New York Post, in a deal revaluing the property at $1.25 billion.

The pair were hired by the Rockpoint Group to market their share in May. Rockpoint purchased the stake from Swiss bank UBS in January 2010. That earlier deal had valued it at just over $600 million, or $625 per square foot.

Developer Fisher Brothers still holds the majority share and runs the Class A building.

A roundup of the recent hotel deals in NYC’s most active hospitality market

Radisson Lexington - Doubletree Guest Suites - Park Central Hotel - Ink48 - Paramount Hotel - Yotel - Milford Plaza Hotel - Cassa Hotel - Buckingham Hotel - Four Points by Sheraton - Algonquin Hotel - The Royalton - Morgans Hotel  - Palace Hotel -  New York Helmsley Hotel - Park Hyatt

Hersha Hospitality to Sell Portfolio of 18 Non-Core Properties

PHILADELPHIA--(BUSINESS WIRE)--Hersha Hospitality Trust (NYSE: HT), owner of upscale and select service hotels in major metropolitan markets, announced that as part of the Company’s portfolio repositioning and capital recycling program it has entered into definitive agreements to sell 18 properties to an affiliate of Starwood Capital Group for approximately $155 million, including the assumption of outstanding mortgage debt.

U.S. hotel owners are seeing an increase in corporate travel while the number of leisure guests is not breaking any records. Generally, room rates and occupancy levels are on the rise. Yet not every hotelier across the country is raking in massive profits.

Investors share an optimistic view about the future of the U.S. hotel sector. Yet no one can deny that challenges are part and partial of an economic recovery period. The July 11 ALIS Summer Update's 'View from the Boardroom' event shed light on the present state of the U.S. hotel industry.

Although the recent recession slowed down travelers, they have returned to U.S. hotels during the current recovery period. Continuing from the trends in the first months of 2010, occupancy gains outperform room rates. The June 2011 Hotel Horizons® report by PKF Hospitality Research (PKF-HR) predicts that demand for U.S. hotel rooms will rise at least 4.9% in the present year.

The NYC Hotel Gansevoort is proving to be popular with guests (and non-guests) who want to beat the summer heat. The hotel's rooftop pool looks very inviting on hot summer days in New York City. Of course, the establishment's observant lifeguards always spot the intruding 'non-guests' who want to crash the pool parties.

Hotel Gansevoort

Obviously, the 210-room Gansevoort has earned a cool reputation as part of the NYC hotel scene. Hotel Gansevoort gained recognition as the first luxury urban full-service resort in the Meatpacking District of New York City. Its rooftop pool is available to guests or others who pay for a spa admission. The Exhale Spa has three infinity-edge hydro pools, steam room, and private therapy rooms. Access to these amazing services might be pricey but it will seem like a small price to pay for relief from the summer heat.

Gansevoort Rooftop

Hotel Gansevoort's 45-foot heated outdoor rooftop pool with its underwater lights and music is open year-round for eager swimmers. In addition, the hotel has the 'Plunge' rooftop bar and lounge, as well as a landscaped garden, and 5,500 sq ft. of New York City event space including the incredible rooftop space.

Urban Oasis

The Gansevoort is described as an "urban oasis." This hotel delivers a perfect space for swimming and sunning. People can chose a snack from the Plunge Bar and Lounge or enjoy a few quiet moments in the lovely landscaped garden.

New York City

The view of the Hudson River is another bonus of spending time at Hotel Gansevoort. The expansive event Loft with its 20-foot ceilings offers 360 degree views of New York City architecture as well as the natural beauty of a sunset over the Hudson. All Hotel Gansevoort guests can enjoy the spectacular sight of the July 4 fireworks from their luxurious vantage point by the river.

Luxury NYC Hotels

A relaxing swim in a luxurious hotel seems like a good deal to summer visitors. Of course, other NYC hotels besides the Gansevoort have rooftop pools. Indeed, guests on a budget can find affordable accommodations with rooftop pools in New York City.

Affordable NYC Hotels

Many New Yorkers pay for an afternoon at the rooftop pool of the Holiday Inn on 57th Street. Indeed, the price for using this pool drops considerably after 3 p.m. on weekdays. Swimmers must expect a small, standard motel pool at this location.

Generally, hotel staff will ask guests if they would like to view the pool before paying for the swim. This rooftop pool serves its purpose. The Holiday Inn wants to ensure that their standard-size pool suits the needs of individual swimmers.

Gansevoort Gets Top Rating

Elle UK Magazine has rated Hotel Gansevoort as the best place in NYC to stop for a shopping break. Situated in the West Village end of the Meatpacking District, Hotel Gansevoort is near a selection of the best shops in New York City. As well, this upscale NYC property is near several superb restaurants. The Gansevoort focuses on guests' comfort. Several celebrities have stayed at this establishment but Hotel Gansevoort offers its own brand of personalized service to every guest.

Hotel Gansevoort's Remarkable Rooftop

Image courtesy of mns.com

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Gansevoort Park Avenue - Plan a Getaway to New York City

 

Friday, 25 February 2011 08:39

Hotel News Developments NYC

Gansevoort Hotel Group has announced the official opening of its Gansevoort Park Avenue NYC. The hotel has been open to the public since August 2010. This luxury hotel at Park Avenue South and 29th Street will make people want to plan a getaway to New York City.

Image courtesy of blog.mtrip.com

The Gansevoort Hotel Group's (GHG) magnificent structure should inspire more travelers to vacation in the thriving NYC metropolis rather than a tropical resort. Actually, since its opening in 2009, the Gansevoort Hotel Group (GHG) manages a popular Caribbean resort property - Gansevoort Turks + Caicos. Now Michael Achenbaum, President of Gansevoort Hotel Group, refers to Gansevoort Park Avenue as "the city’s most comprehensive urban resort."

Achenbaum says that the company has worked with top brands in varied industries (beauty, fashion, restaurant) to create "a one-of-a-kind experience for hotel guests." The Gansevoort Hotel Group has put together a luxurious package for their guests. Exhale spa offers spa therapies and daily Core Fusion® yoga classes.

A Lacoste boutique sells co-branded merchandise and limited-edition items created in partnership with famous designers. Cutler serves as the in-house salon and exclusive provider of hotel bath and hair products. GHG has even brought Porsche into the picture. Guests can enjoy complimentary in-town car service in the 2011 Porsche Panamera 4S.

Indeed, it would be difficult to disagree with Achenbaum when he speaks about the resort quality of this NYC hotel. Gansevoort Park Avenue offers ultimate luxury and unsurpassed style. He believes that this new luxury hotel will be a tremendous addition to Manhattan night life and its culinary scene.

The 20,000 tri-level rooftop complex features connected nightlife spaces, Ultra Lounge with attached outdoor balconies, and the Ristorante Asellina, a 10,000 square-foot Italian trattoria, operated by The ONE Group, and featuring a James Beard Award-winning chef. The Manhattan-based firm, ICRAVE, created this upscale restaurant.

No doubt, GHG has created a unique property for an overnight or extended hotel stay as well as for other types of events and gatherings. This 'one-of-a-kind' entertainment property in New York City can accommodate large-scale events – every day of the week. With its 240 elegant and expansive (average – 462 sq ft) rooms and suites, Gansevoort Park Avenue is a grand building.

Its design reflects American inspiration and the innovative spirit of GHG. The impressive three-storey lobby, elaborate guest rooms, presidential suite, and spectacular pool area were designed by architect Stephen B. Jacobs and interior designer Andi Pepper. The artwork of well-known photographer, Deborah Anderson, is featured throughout the hotel – even on the rooftop.

With superb 360-degree views of Manhattan, the building's distinct rooftop level is just as exceptional as the rest of this amazing structure. Satsky & Gefter Corp., proprietors of several luxury nightlife venues in New York, has partnered with The ONE Group and Gansevoort Hotel Group to create an unrivaled nightlife experience at the Gansevoort Park Rooftop.

“Gansevoort Park Avenue was conceived throughout as a self-contained world,” says Michael Achenbaum, President of Gansevoort Hotel Group.

Obviously though, guests will not be too disappointed either with the world outside the door – in the heart of Midtown Manhattan.

Gansevoort Hotel Group Unveils The Ultimate Urban Resort

Google, the search engine giant, always seems to have an ace up its sleeve. At present, the corporation has scored an ace in a popular Manhattan hotel. The Ace Hotel has announced a special partnership with Google.

New York City hotels are no strangers to stylish fashions. New Yorkers, as well as visitors from around the world, show their passion for fashion during the "Superbowls of Fashion" held twice every year in the Big Apple. Top designers unveil their fall collections in February shows. Leading names in the fashion industry introduce their spring collections at the September event.

REITs are showing a definite interest in NYC hotels. Private investors are not the only group wanting to buy into lodging properties in the Big Apple. REITs appreciate a gateway market like New York City.

Investors are willing to pay record prices for NYC hotels. Of course, the economy is recovering – although not at a quick pace. Yet economic improvements are occurring at a slow and consistent rate.

According to research firm Real Capital Analytics Inc., hotel prices rose to almost $185,000 per room during the first quarter of 2011. Five years ago, values were at a peak - $153,000 a room – but dropped 37% in 2008. Current record prices being paid by investors for U.S. hotels, however, might be outpacing gains in room rates and stays.

Without a doubt, the summer season will bring scores of visitors to New York City. Yet current incentives offered by NYC hotels should sweeten the deal for guests and owners. Even the most luxurious hotels have organized summer bargains for leisure tourists and corporate travelers.

Signature Specials

Big Apple luxury hotels are offering season specials - such as book for two consecutive nights in New York City and receive a third night free of charge. The Signature Collection of hotels have opted for this attractive offer. Signature Hotels are running the promotion between June 27th and September 5th, 2011. This program will be available at 15 of Manhattan's most upscale hotels including two recently completed Signature properties.

Image courtesy of innercityapartments.com

These special summer prices can be found in Signature hotels throughout Manhattan. Specific hotels offering this Signature special include The Carlyle (a Rosewood Hotel), Hotel Plaza Athenee New York, Jumeirah Essex House, Loews Regency Hotel, London NYC Hotel, Peninsula New York Hotel, The Pierre New York, The Plaza Hotel, Ritz Carlton New York (Battery Park), and Ritz Carlton New York (Central Park). Other hotels providing the special rates are Setai Fifth Avenue (a Capella-managed hotel), Sherry-Netherland, St. Regis New York, and Trump SoHo New York, as well as the Waldorf Towers & Hotel.

If there is still anyone out there who is not convinced about investor confidence in NYC hotels, recent news about six Manhattan hotels should leave them without any more doubts. New York City has a hot hotel market. The latest sign was the June 22 announcement about the joint venture involving Pebblebrook Hotel Trust and Denihan Hospitality Group.

Investors recognize that New York City is an established and historically-sound market. As a world center with an unmistakable draw for tourists and business people, NYC lodging opportunities are popular with investors. The market in the Big Apple has the ability to survive economic downturns.