Manhattan Hotel Investments - Hotel Brokers in New York City

Affordable Deals in NYC Hotels

New York City attracts a multitude of tourists on an annual basis. The city, as well as the hospitality industry, does an effective job of marketing the metropolis and its guest rooms. With a perfect location, popular brands, and prominent owners working in its favor, the NYC hotel sector is a thriving concern.

In fact, everyone can take advantage of this exciting hospitality scene. Whatever their budget, no tourist needs to cross the Big Apple off their list. Travel packages and affordable hotel prices are available for this global center.

Tips for Terrific Travel and Hotel Deals

Book early to find fabulous and affordable accommodations in New York City.
Make reservations now for spring breaks.
If you are still undecided, at least book early in the New Year (preferably January) for that April trip.
Comfortable lodging properties can be found everywhere in New York City.
Keep checking for the best hotel deals.
If you need to change your plans, many NYC hotels will allow cancelations without penalty.
Travelers can always rebook if they discover a fallen price.
Several hotels offer discounts for non-refundable bookings.
Priceline and Hotwire offer discounts but do not release the hotel name until after a non-refundable booking.
BetterBidding.com has excellent advice for first-timers. This site shows recently accepted bids.
Take advantage of travel packages.
Almost all U.S. carriers offer cheaper flight prices for earlier bookings.
Specific airlines might offer only one class of seat but very inexpensive rates for early bookings.
Major airlines let passengers cancel and rebook tickets purchased online within 24 hours without penalty.
Plan flights before or after peak days and pay cheaper rates.
Fly on a holiday. Actually, Thanksgiving or Christmas morning or early New Year's Day are slow traffic times.
Flying non-stop costs more than a trip with at least one touchdown.
Allow plenty of time for connecting flights.
Choose the cheapest flight for both ways – even if that means picking two different airlines.
Do a through check of online prices. Different travel websites might have better deals.
Hotel and rental car companies can offer deals for certain groups or employees.
It is possible to get a NYC air/hotel package sale for 4 nights at 3-5 star Manhattan hotels for $675.*
*Between now and the end of 2011 depending on specific hotels and departure locations
Visitors to New York City can arrive via LaGuardia, JFK, or Newark Airports.
Several popular airlines fly into airports serving the Big Apple.
The NYC hospitality industry offers all kinds of incentives – from free breakfasts to 10% discounts to free room upgrades.
New York City hotels offer value for money complete with superb surroundings and helpful staff.

NYC Hotels

Check out Hotel 99 - the newest budget boutique 'extended stay' hotel in New York's Upper West Side. This Broadway hotel offers comfortable accommodations at discount rates. Hotel 99 is situated near well-known NYC sites such as Central Park, Lincoln Center, and the Metropolitan Opera.

Image courtesy of rumbo.es

Boutique Hotels - The Concept of Buying

Numerous investors pursue boutique hotels – especially in major centers like New York City. Investors understand that the concept of buying into a NYC hotel is on the mind of shrewd entrepreneurs everywhere. Actually, hotel owners under major brands are also examining the 'concept of buying' as it applies to their guests.

Hotel Shop

The 'hotel shop' is becoming a place where establishments can express their uniqueness. Bjorn Hanson, divisional dean of the Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management at New York University, says that hotels can express individuality through their shops. Hotel owners prefer unique merchandise.

During the previous decade, the hospitality industry had tried the same plan to promote their restaurants. Originally, the shops in hotel lobbies were designed to address practical needs. The outlets offered sundries, candy bars, and souvenirs. The hotel shop was an uninspiring fixture in lodging properties.

Concept of Buying

Yet today's hotel owners are rethinking the shopping services provided for their guests. Every hotel wants to distinguish themselves from the rest of the hospitality sector down the street or across town. Hotel owners are upgrading their shops and expanding their merchandise to include items found in gift shops, fashion outlets, emporiums, and even art galleries.

Hotel Brands

Hotel brands (including several properties operated by the Morgan Hotel Group) are rethinking the concept of the shop itself. Hotels hope to attract leisure and corporate guests as well as local residents to their stores. Indeed, large chains (such as Marriott and Westin in which the average stay is five days) have successful shops focusing on quality clothing and local products.

Hotel Markets

Individual hotels in a variety of markets are adopting their own initiatives. In fact, small boutique chains and high-end independent properties have already been embracing innovation. Although hotels still stock standard items (such as bathrobes and sheets), many brands have developed additional customized goods.

W Hotels

W Hotels in certain cities around the world offer cocktail dresses, earrings, and bracelets in their own hotel brand. W clothing collections were first introduced a couple of years ago at New York Fashion Week. W Hotels has stores in 18 of its 41 properties on the global scene. This chain is credited with originating the idea of the high-concept hotel shop.

In 2002, the W New York shop started the trend by offering high quality clothing, amazing accessories, and superb candles in the store instead of standard choices. Eva Ziegler, W Hotel’s global brand leader, says that the main goal of the collections is to provide the ultimate experience for guests. Profit is not the prime concern but Ziegler adds that the stores enjoy financial success.

Hospitality and Retail

Hotels are beginning to realize that the retail and hospitality industries can work together - although each sector has its own requirements. Properties can form partnerships with retailers or lease space to outlets. Local retailers welcome the chance to open a version of their main stores within a hotel shop. Since occupancy rates are expected to increase, hospitality insiders predict a bright future for upscale hotel shops.

High-end outlets add to a hotel's appeal. Chekitan Dev, an associate professor of strategic marketing and brand management at the School of Hotel Administration at Cornell University, has nothing but positive things to say about attractive and efficient hotel shops that meet guests' needs. Successful hotel shops mean that satisfied customers will spend more time and money within the property.

If hotel owners find a perfect balance and popular vendor, they will improve the general experience for guests and add to their own profits. Owners must choose which type of venture (shop, restaurant, or bar) makes more financial sense. Depending on the specific hotel and its location, owners can charge vendors anywhere between $50 and $1000 per square foot. Properties might also be able to share in the sales revenue.

Generally, sales in hotel stores are spontaneous purchases. The best selling items fall in the price range of $10-$50. Guests buy everything from toothbrushes and candy to customized clothing. Although major items are available in hotel stores (such as the $1,000,000 apartment at the Mondrian South Beach vending machine), guest prefer smaller products that fit into carry-on bags.

Morgans Hotel Group

A spokesperson for the Morgans Hotel Group says that their chain likes to vary the products at their stores in different cities. As well, like most hotels, the Morgans Group gears its inventory to reflect the location and its clientele.

New York's Standard Hotel

New York's Standard Hotel invites artists to create installations for sale in the establishment's shop. In addition, the hotel offered limited-edition prints and posters for purchase as well as playing cards based on the artists' work. Of course, the Standard Hotel does not forget the staples of hotel shops such as magazines, jewelery, and fragrances.

Mondrian Soho

The Mondrian Soho in New York has introduced an exciting project to create shopping outlets in minimal space. Hotel guests can use an in-room iPad and buy items (Rogan sweaters and shirts,…) from the mini-bar. Purchases are ready within ten minutes.

Hospitality Boutiques

Image courtesy of readio.com

DiamondRock - Delving into NYC Developments

On January 18, 2011, industry reports confirmed that the Maryland-based DiamondRock Hospitality Company (NYSE: DRH) was planning to purchase a hotel property under development on West 42nd Street in Times Square, New York City. DiamondRock Hospitality Company, a real estate investment trust (REIT), owns 23 hotels (over 10,700 rooms) and holds the senior loan on a 443-room hotel. Depending on the number of guest rooms (maybe 250 to 300 guest rooms, $450,000 each), the contractual price was to run between $112.5 million and $135 million.

Planned Development

This NYC hotel is expected to be completed by 2013. The Times Square hotel is being developed by an affiliate of Walton Street Capital L.L.C. and Highgate Holdings. Upon completion, Highgate Hotels is expected to operate the venture. DiamondRock is seeking approval from a leading global hotel operator to franchise a popular and select service brand for the new hotel under development on West 42nd Street.

Image courtesy of therealdeal.com

Prestigious NYC Hotel

On March 14, however, the company announced that it also has the right of first refusal to buy the adjacent Knickerbocker Hotel. In June 2010, Highgate Holdings (with partners Ashkenazy Acquisitions Corporation and Crown Acquisitions) bought the Knickerbocker Hotel, as well as an adjacent 10,000-square-foot lot at 1466 Broadway in Manhattan, for $170.5 million. That price adds up to $662 per square foot. The partners had encountered plenty of competition wanting to buy this historic site.

Highgate and its partners were a perfect match for this purchase. Highgate is known internationally for its hospitality ownership and management. This prestigious company holds a $6 billion global real estate portfolio concentrated in hotels and lodging properties. As well, Ashkenazy and Crown are regarded as exceptional owners and developers of prime retail assets.

Mixed-Use Conversion

At the time of purchase, Highgate Holdings and the other buyers unveiled a comprehensive plan for the Knickerbocker Hotel. The new owners hoped to take on a major initiative and convert the hotel into a mixed-use establishment – an upscale boutique hotel with a high-end retail presence in its base. In addition, the owners wanted to turn the adjacent lot into a luxury retail complex.

Knickerbocker Hotel

Before Highgate owned this asset (6 Times Square), the hotel had been under the control of Danske Bank who had been advised by Jones Lang LaSalle during the sale to Highgate. Originally, the 300,000-square-foot Beaux-Arts building on the southeast corner of 42nd Street was developed by John Jacob Astor and opened in 1906. (‘Knickerbocker’ was an iconic name for New York.)

The Knickerbocker was a showcase for luxury at the time of its opening. The hotel, however, closed its doors after fifteen years when there was a change in fortunes. The Knickerbocker reopened later and became the home for Newsweek magazine between 1940 and 1959.

42nd Street

Besides the Knickerbocker and the planned new development, 42nd Street between Broadway and Avenue of the Americas includes the 48-story Condé Nast building and the 55-story One Bryant Park tower (Bank of America's New York City headquarters). Over the past ten years, the 42nd Street block has experienced a significant revival.

DiamondRock: NYC Hotel Acquisition Includes Right to Buy Knickerbocker

Go for a Swim at Hotel Gansevoort

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

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 Scores an Ace in NYC Hotel

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.

Google Chromebooks

Guests at the Manhattan Ace will receive free Google Chromebooks (notebook and curated travel city guide application). The Ace Hotel Google Chrome App was designed by Superfuture.

Free App in NYC Ace Hotel

Indeed, hotel guests and lobby visitors to the NYC Ace will be eligible to get the free Google app. Virgin America has agreed to a similar venture with Google. On select flights, Virgin America will provide its airline travelers with free Chromebooks.

Hotels and Technology

The newest travel trend involves incorporating technology into hotels and airports, on airlines, and at several additional sites. Consider the widespread popularity of iPads. Upscale loaner technology products have become a hot item. In fact, tech tools have replaced other designer merchandise as the 'in' thing for today's sophisticated traveler.

Marketing Benefits - Tech Products

Marketing the latest technology products works well for device manufacturers and hotel owners as well as airports and airlines. Guests are impressed with hotels offering the newest gadgets. Airline travelers tend to choose the airline with the best technology.

People enjoy the airport experience at locations providing the latest tech products. The biggest marketing benefit to a provider is people's perception of being a progressive entity. Innovation impresses guests and travelers.

Of course, inventors of tech products can reach a massive audience by marketing to hotels and airlines. As well, device makers can take their invention to a valued demographic – guests who can afford chic accommodations and first-class airline seats. Marketing tech products benefits all sides – the inventors and providers of technology merchandise.

NYC Algonquin Hotel

Obviously, Google is not alone in this push to get their technology into people's hands. In 2008, the century-old NYC Algonquin Hotel used Amazon Kindles, breakthrough handheld digital readers, to make a huge impression on tech-savvy guests.

The Algonquin launched an "eBooks on Demand" program offering Kindles pre-loaded with "a variety of best-sellers, modern classics" as well as other selections. The hotel could even take book requests from guests and add the choices into the reader. The Kindles were loaned free of charge on a first-come, first-served basis.

The e-readers could be used in lobbies and guestrooms. The Algonquin advantage - an efficient method of providing an extensive book selection and a clean, green alternative to traditional books. This legendary NYC hotel has age in its past and innovation in its present as the establishment moves forward into the future.

Several trendy NYC hotels might be sticking with bookshelves. Yet the historic Algonquin shelved that idea by providing Amazon Kindles to hotel guests. It remains to be seen how many other partnerships will evolve between device makers and hotel owners. Companies such as HP and Motorola could reach out to hotels and other locations for potential marketing partnerships.

Ace Partnership

Obviously if companies want to outshine Apple, the ventures must be prepared to spend millions of dollars in marketing. It is not surprising that the Ace Hotel would partner with Google. This Midtown Manhattan hotel has always had a distinct presence.

The Ace explains its position regarding their gift of Google to hotel guests, "For guests, we’re laying out an extra gift: an Ace x Google designed notebook – with real paper – wearing a John Milton quote from 1634. This is about discovery, documentation, adventure and resourcefulness – we aim to make the Ace NYC experience as inspiring and nuanced as our guests."

Google Chrome…Ace Hotel Deals

Image courtesy of hotelchatter.com

Herald Square Heralds NYC Hotels Success Story

Although specific sectors in the U.S. hotel industry might have no funding or sufficient demand to justify further development, New York City has a record-performing tourism market with room for more growth. Manhattan is experiencing a building boom but a certain city block – Herald Square - is moving beyond the norm to an even higher level of success. Developers are interested in this Midtown block because the construction logistics are right for demolition and redevelopment.

Best Western Plus New York City Herald Square

Best Western developers, LeTap (hotel investment, management, and development firm) recognized a superb setting in the Herald Square market. This prime location has an unparalleled view of the Empire State Building. Views to the East are unobstructed and the hotel is at least four to five stories above the structures to the south on 35th St. As well, Bryant Park and Times Square are close to the building.

“We wanted to be close to Herald Square, and this is one of the only spots in the area with low-rise buildings, which are easy to demolish and rebuild ground-up,” explains Jaz Patel, President of LeTap.

Patel did not reveal the plot's sale price. Yet despite the present competitive investment climate, Patel admitted to a quick on-the-spot deal with the owner. After purchasing the plot, LeTap* bought out the building's four retail tenants. LeTap made a significant investment in this hot hotel market – but in the largest concentration of guest rooms under construction on one block.

Other lodging establishments including The Strand NYC, Hampton Inn Empire State Building, the Morgans Hotel, and Setai Fifth Avenue, as well as a Comfort Inn on 35th St., can be viewed from the Best Western’s rooftop garden. Although Patel must ponder the possibilities of returns, there is little need for concern. Recently, the neighboring Hyatt Place sold for almost $77 million.

The 17-storey, 94-room Best Western, will feature five rooms on Floors 16 and 17. Other floors will have six guest rooms. The NYC standard guest accommodations offer 200 to 220 square feet per room at a midscale but competitive rate (about $225).

Patel notes, “Our target guests are going to be leisure; even in Long Island City, our guest base is probably 70 to 80 percent leisure.”

Although space is at a premium, the common area will have a bar and lounge with flat-screens TVs on the ground level and doors leading to an outdoor patio. The basement level will host breakfast, business, and fitness areas. The building features the dramatic contrast of glass in the front looking through to brick in the back.

“Best Western was the first, and really only, brand we considered. Given the cost of their membership fees, there’s really no better deal to develop in Manhattan from a franchise perspective.” ~ Jaz Patel

*As well as having a presence in Midtown, LeTap operates a Best Western property across the East River in Long Island City, Queens.

NYC Hotels Under Construction - Recent News

Between 5^thand 6^thAvenues on West 36^th Street - four hotels under development
Holiday Inn Express and Hyatt Place under construction on 36^th
Executive Resorts and Hotels, a Canadian hotel management and franchise company, bought four 1,500 square feet (approx.) low-rise buildings at 38-44 West 36th Street.
January 2012 - Sam Chang and the McSam Hotel Group went under contract to sell a pending 185-room hotel at 52 West 36th Street to Chesapeake Lodging Trust for $76.5 million. The deal is expected to close in the third quarter with the completion of the 25-story Hyatt Place (the brand’s first foray into Manhattan).

Although hotel development and increasing rates will stabilize at some point, this booming Manhattan market shows no sign of any slowdowns in the foreseeable future.

Image courtesy of city-data.com