Hotels For Sale in NYC - OFF MARKET Hotel Properties For Sale in New York - Hotel Development NYC

According to the February 16 Hotel Intelligence New York report released by Jones Lang LaSalle Hotels, the volume of hotel deals will double during 2011 in New York City. This year's hotel deal volume is expected to come in between $1.9 billion and $2.4 billion. In fact, the most hotel transactions in the US will take place in Manhattan.

Manhattan Lodging Market

Keep in mind that Manhattan has a history of high hotel transaction levels. Total deals have reached $12 billion in the past ten years. In 2010, hotel transactions accounted for $1 billion in Manhattan. Arthur Adler, managing director and CEO-Americas for Jones Lang LaSalle Hotels, expects the 2011 deal volume to rise by 90%-130% over 2010 numbers.

In 2010, the highest growth rate of any major American market was in Manhattan. Last year, more than 25 hotels (almost 5,600 rooms) opened in Manhattan. The above-average number of openings took place as hotels planned in previous peak periods came to life in economic recovery. The luxury market is expected to reach RevPAR growth of more than 10%-12% over 2010 rates in this dynamic NYC borough. RevPAR increase will be spurred on by ADR growth.

Jones Lang LaSalle Hotels Analysis

Jones Lang LaSalle Hotels has done an in-depth market analysis of NYC hotels for the past four years. The reports look at the overall trends in the hotel investment market. When forming their projections, the firm considers the estimated transaction value of properties that are presently on the market. They base their projections on the current offerings that are likely to transact within the year.

Their method of projection makes for reliable results. If a report calculates future NYC hotel transactions based on current properties in the marketplace, the results should give an accurate picture. If a NYC hotel is up for sale, it is almost guaranteed to find a buyer willing to pay the price. The Manhattan market has an intense appeal for buyers and investors.

Why will NYC hotel deal volume double in 2011?

Varied factors will contribute to the huge increase in NYC hotel transactions volume during 2011.

• Significant RevPAR recovery
• Improvement in debt markets
• Investors wanting to sell before expiry of 2007-2012 loan terms
• Currency movements
• Healthier economic environment - Low cap rates
• Market fundamentals
• Increased demand for hotel rooms
• At or near peak occupancy level
• Rise in corporate travel
• REITs will be active buyers - Cost of capital is competitive compared to buyers relying on leverage
• Foreign investors (especially from Asia and the Middle East) want to invest in NYC hotels
• Brands will make investments geared to establishing, revising, or strengthening their presence
• Institutional funds seeking liquidity will be among the active sellers

Double the Deals

The NYC hotel market looks promising for 2011 and the coming years. Manhattan will keep its place as the leading market for U.S. hotel investment. New York City is the place to come for double the deals in U.S. hotels.

NYC hotel deal volume to double in 2011

The 280-room Fashion 26 hotel has a new brand. The announcement came during Fashion Week in New York City. A hotel named Fashion 26 could not choose a better time to announce a brand change. The perfect time to get a new look!

Now, of course, Fashion 26 does not need a makeover because of its age. The hotel has not been open for a year - although it managed to create quite a past for itself in these few short months. In fact, the hotel's new look is more a 'behind the scenes' change rather than a changed appearance.

Previously, the hotel was known as an "independent." No doubt, that label might fit a building known as "Fashion 26." Independent fashion designers are a rare and innovative breed. Does this hotel share similar characteristics?

If buildings could talk, this establishment would be able to tell an intriguing story. In fact, recent developments suggest that the Fashion 26 hotel will continue to hold our interest in the future. Apparently, the hotel has a secret. At one time, Fashion 26 had been a 'secret' Wyndham. Actually, the hotel ended up as the most stylish Wyndham in New York City.

Recently, the hotel was managed by Highgate Hospitality. Yet it was expected that Highgate's involvement was just a temporary deal. The rumour was that the owners wanted Fashion 26 to be a Hilton Hotel. Coincidentally, the hotel got its new brand during the week celebrating style. Fashion 26 became a Hilton Hotel.

The new Hilton is located on 36th and 7th Avenue. The Hilton New York Fashion District is the name tossed about for the neighborhood. Fashion references abound for the new Hilton Hotel/ previous Fashion 26 hotel.

Yet not every New Yorker is familiar with that name for this neighborhood. The Garment District is the more common name for the area. Within New York City, however, neighborhoods have grown around and sprung from a city section with a classy hotel as its center. The neighborhoods around The Ace, The Hudson, and The Chelsea are prime examples of hotels being central to an area. Therefore, it is not too far-fetched to suggest that many New Yorkers will refer to the Hilton New York Fashion District in the future.

At least, Fashion 26 has proved itself not to be a humdrum property. This hotel is ever changing and taking on new identities. Maybe it speaks well for the NYC industry.

A hotel can change brands and still maintain a strong presence in New York City. Actually, the Big Apple has a big client base of leisure and corporate tourists to depend on for business. All types of hotel brands - economy, boutique, luxury, and more - can thrive in this dynamic Manhattan market.

Will Fashion 26 change much as a new Hilton Hotel?

According to the company, there will not be major changes. In fact, the hotel will be taking incentives from the former Fashion 26 and the Hilton brand and continuing to offer them in the new brand. The free cupcakes familiar to Fashion 26 guests will be on the menu. Collecting and redeeming HHonors points will be possible in the rebranded hotel. The new Hilton gets top honors for acquiring the stylish Fashion 26.

Fashion 26 Becomes Hilton in Yet Another Reflagging

The 280-room Fashion 26 hotel has a new brand. The announcement came during Fashion Week in New York City. A hotel named Fashion 26 could not choose a better time to announce a brand change. The perfect time to get a new look!

Now, of course, Fashion 26 does not need a makeover because of its age. The hotel has not been open for a year - although it managed to create quite a past for itself in these few short months. In fact, the hotel's new look is more a 'behind the scenes' change rather than a changed appearance.

Previously, the hotel was known as an "independent." No doubt, that label might fit a building known as "Fashion 26." Independent fashion designers are a rare and innovative breed. Does this hotel share similar characteristics?

If buildings could talk, this establishment would be able to tell an intriguing story. In fact, recent developments suggest that the Fashion 26 hotel will continue to hold our interest in the future. Apparently, the hotel has a secret. At one time, Fashion 26 had been a 'secret' Wyndham. Actually, the hotel ended up as the most stylish Wyndham in New York City.

Recently, the hotel was managed by Highgate Hospitality. Yet it was expected that Highgate's involvement was just a temporary deal. The rumour was that the owners wanted Fashion 26 to be a Hilton Hotel. Coincidentally, the hotel got its new brand during the week celebrating style. Fashion 26 became a Hilton Hotel.

The new Hilton is located on 36th and 7th Avenue. The Hilton New York Fashion District is the name tossed about for the neighborhood. Fashion references abound for the new Hilton Hotel/ previous Fashion 26 hotel.

Yet not every New Yorker is familiar with that name for this neighborhood. The Garment District is the more common name for the area. Within New York City, however, neighborhoods have grown around and sprung from a city section with a classy hotel as its center. The neighborhoods around The Ace, The Hudson, and The Chelsea are prime examples of hotels being central to an area. Therefore, it is not too far-fetched to suggest that many New Yorkers will refer to the Hilton New York Fashion District in the future.

At least, Fashion 26 has proved itself not to be a humdrum property. This hotel is ever changing and taking on new identities. Maybe it speaks well for the NYC industry.

A hotel can change brands and still maintain a strong presence in New York City. Actually, the Big Apple has a big client base of leisure and corporate tourists to depend on for business. All types of hotel brands - economy, boutique, luxury, and more - can thrive in this dynamic Manhattan market.

Will Fashion 26 change much as a new Hilton Hotel?

According to the company, there will not be major changes. In fact, the hotel will be taking incentives from the former Fashion 26 and the Hilton brand and continuing to offer them in the new brand. The free cupcakes familiar to Fashion 26 guests will be on the menu. Collecting and redeeming HHonors points will be possible in the rebranded hotel. The new Hilton gets top honors for acquiring the stylish Fashion 26.

Fashion 26 Becomes Hilton in Yet Another Reflagging

The 280-room Fashion 26 hotel has a new brand. The announcement came during Fashion Week in New York City. A hotel named Fashion 26 could not choose a better time to announce a brand change. The perfect time to get a new look!

Now, of course, Fashion 26 does not need a makeover because of its age. The hotel has not been open for a year - although it managed to create quite a past for itself in these few short months. In fact, the hotel's new look is more a 'behind the scenes' change rather than a changed appearance.

Previously, the hotel was known as an "independent." No doubt, that label might fit a building known as "Fashion 26." Independent fashion designers are a rare and innovative breed. Does this hotel share similar characteristics?

If buildings could talk, this establishment would be able to tell an intriguing story. In fact, recent developments suggest that the Fashion 26 hotel will continue to hold our interest in the future. Apparently, the hotel has a secret. At one time, Fashion 26 had been a 'secret' Wyndham. Actually, the hotel ended up as the most stylish Wyndham in New York City.

Recently, the hotel was managed by Highgate Hospitality. Yet it was expected that Highgate's involvement was just a temporary deal. The rumour was that the owners wanted Fashion 26 to be a Hilton Hotel. Coincidentally, the hotel got its new brand during the week celebrating style. Fashion 26 became a Hilton Hotel.

The new Hilton is located on 36th and 7th Avenue. The Hilton New York Fashion District is the name tossed about for the neighborhood. Fashion references abound for the new Hilton Hotel/ previous Fashion 26 hotel.

Yet not every New Yorker is familiar with that name for this neighborhood. The Garment District is the more common name for the area. Within New York City, however, neighborhoods have grown around and sprung from a city section with a classy hotel as its center. The neighborhoods around The Ace, The Hudson, and The Chelsea are prime examples of hotels being central to an area. Therefore, it is not too far-fetched to suggest that many New Yorkers will refer to the Hilton New York Fashion District in the future.

At least, Fashion 26 has proved itself not to be a humdrum property. This hotel is ever changing and taking on new identities. Maybe it speaks well for the NYC industry.

A hotel can change brands and still maintain a strong presence in New York City. Actually, the Big Apple has a big client base of leisure and corporate tourists to depend on for business. All types of hotel brands - economy, boutique, luxury, and more - can thrive in this dynamic Manhattan market.

Will Fashion 26 change much as a new Hilton Hotel?

According to the company, there will not be major changes. In fact, the hotel will be taking incentives from the former Fashion 26 and the Hilton brand and continuing to offer them in the new brand. The free cupcakes familiar to Fashion 26 guests will be on the menu. Collecting and redeeming HHonors points will be possible in the rebranded hotel. The new Hilton gets top honors for acquiring the stylish Fashion 26.

Fashion 26 Becomes Hilton in Yet Another Reflagging

The NYC hotel industry is a dynamic market. In fact, investors worldwide want to invest in New York City hotels. Obviously though, people have many questions about the current and future state of the industry.

Does recent research point to a profitable future for NYC hotels?

Numerous statistics and studies paint an encouraging picture for the future of NYC hotels. In fact, industry experts had predicted growth figures in September 2010 and had to revise them by year-end indicating higher growth rates. Colliers PKF Hospitality Research and Smith Travel Research published encouraging statistics.

Colliers stated that it expected RevPAR to rise by 5.9% in 2011 and 10.6% in 2012. In addition, Colliers announced that rates would increase 3.8% in 2011 and 6.3% in 2012. Higher occupancy percentages and considerable increases in Revenue per Available Room (RevPAR) are having a positive overall effect on U.S. hotels – especially in major centers such as New York.

Wouldn't it be better to wait and invest later when the economy has improved even more?

First, confidence in an economy revitalizes it more and at a faster rate. For the overall good of the economy, investing now drives the market. Of course, each individual investor has to consider their own needs. Is this a good time for me to invest in New York City real estate?

The answer to that question (in almost all cases) is – yes, now is the time to invest in NYC hotels. Prices are favorable and predictions are promising for the future of real estate in this global center. As well, it is not only predictions that indicate a profitable future. All the signs in the industry point to a re-energized market. Take a look at the number of recent significant transactions – even since the beginning of the New Year.

Would the luxury market be a wise investment in this current economy?

Many investors tend to shy away from the luxury market in a recovering economy because they have a mistaken view of the sector. The luxury market does lose steam in economic downturns. Yet history shows that the luxury market is the first to rebound from a recession. The current demand for luxury real estate is proof of that statement.

Richard Born, owner of 22 NYC budget and luxury hotels, states that his luxury properties have almost 80% occupancy rates. Smart investors recognize that New York City is a historically-sound market capable of supporting the luxury market. Current investors are even able to choose upscale properties for affordable prices.

Since hotel profitability is dependent on the tourist industry, aren't investors taking a big risk to invest in hotels?

Although nobody can make a 100% guarantee about the success of a business venture, NYC hotels are the nearest thing to a perfect investment. Tourists will always come to New York City and they will need hotels of all types. According to NYC & Company, the Big Apple set a tourism record in 2010 with 48.7 million visitors - 6.8% more than 2009.

Mayor Michael Bloomberg explained the importance of the hospitality business to New York City, "The strength of our tourism industry is one of the reasons New York City was less impacted by the national recession than other cities and it continues to be one of the reasons we're growing faster than other cities today."

The NYC hotel industry is a dynamic market. In fact, investors worldwide want to invest in New York City hotels. Obviously though, people have many questions about the current and future state of the industry.

Does recent research point to a profitable future for NYC hotels?

Numerous statistics and studies paint an encouraging picture for the future of NYC hotels. In fact, industry experts had predicted growth figures in September 2010 and had to revise them by year-end indicating higher growth rates. Colliers PKF Hospitality Research and Smith Travel Research published encouraging statistics.

Colliers stated that it expected RevPAR to rise by 5.9% in 2011 and 10.6% in 2012. In addition, Colliers announced that rates would increase 3.8% in 2011 and 6.3% in 2012. Higher occupancy percentages and considerable increases in Revenue per Available Room (RevPAR) are having a positive overall effect on U.S. hotels – especially in major centers such as New York.

Wouldn't it be better to wait and invest later when the economy has improved even more?

First, confidence in an economy revitalizes it more and at a faster rate. For the overall good of the economy, investing now drives the market. Of course, each individual investor has to consider their own needs. Is this a good time for me to invest in New York City real estate?

The answer to that question (in almost all cases) is – yes, now is the time to invest in NYC hotels. Prices are favorable and predictions are promising for the future of real estate in this global center. As well, it is not only predictions that indicate a profitable future. All the signs in the industry point to a re-energized market. Take a look at the number of recent significant transactions – even since the beginning of the New Year.

Would the luxury market be a wise investment in this current economy?

Many investors tend to shy away from the luxury market in a recovering economy because they have a mistaken view of the sector. The luxury market does lose steam in economic downturns. Yet history shows that the luxury market is the first to rebound from a recession. The current demand for luxury real estate is proof of that statement.

Richard Born, owner of 22 NYC budget and luxury hotels, states that his luxury properties have almost 80% occupancy rates. Smart investors recognize that New York City is a historically-sound market capable of supporting the luxury market. Current investors are even able to choose upscale properties for affordable prices.

Since hotel profitability is dependent on the tourist industry, aren't investors taking a big risk to invest in hotels?

Although nobody can make a 100% guarantee about the success of a business venture, NYC hotels are the nearest thing to a perfect investment. Tourists will always come to New York City and they will need hotels of all types. According to NYC & Company, the Big Apple set a tourism record in 2010 with 48.7 million visitors - 6.8% more than 2009.

Mayor Michael Bloomberg explained the importance of the hospitality business to New York City, "The strength of our tourism industry is one of the reasons New York City was less impacted by the national recession than other cities and it continues to be one of the reasons we're growing faster than other cities today."

The NYC hotel industry is a dynamic market. In fact, investors worldwide want to invest in New York City hotels. Obviously though, people have many questions about the current and future state of the industry.

Does recent research point to a profitable future for NYC hotels?

Numerous statistics and studies paint an encouraging picture for the future of NYC hotels. In fact, industry experts had predicted growth figures in September 2010 and had to revise them by year-end indicating higher growth rates. Colliers PKF Hospitality Research and Smith Travel Research published encouraging statistics.

Colliers stated that it expected RevPAR to rise by 5.9% in 2011 and 10.6% in 2012. In addition, Colliers announced that rates would increase 3.8% in 2011 and 6.3% in 2012. Higher occupancy percentages and considerable increases in Revenue per Available Room (RevPAR) are having a positive overall effect on U.S. hotels – especially in major centers such as New York.

Wouldn't it be better to wait and invest later when the economy has improved even more?

First, confidence in an economy revitalizes it more and at a faster rate. For the overall good of the economy, investing now drives the market. Of course, each individual investor has to consider their own needs. Is this a good time for me to invest in New York City real estate?

The answer to that question (in almost all cases) is – yes, now is the time to invest in NYC hotels. Prices are favorable and predictions are promising for the future of real estate in this global center. As well, it is not only predictions that indicate a profitable future. All the signs in the industry point to a re-energized market. Take a look at the number of recent significant transactions – even since the beginning of the New Year.

Would the luxury market be a wise investment in this current economy?

Many investors tend to shy away from the luxury market in a recovering economy because they have a mistaken view of the sector. The luxury market does lose steam in economic downturns. Yet history shows that the luxury market is the first to rebound from a recession. The current demand for luxury real estate is proof of that statement.

Richard Born, owner of 22 NYC budget and luxury hotels, states that his luxury properties have almost 80% occupancy rates. Smart investors recognize that New York City is a historically-sound market capable of supporting the luxury market. Current investors are even able to choose upscale properties for affordable prices.

Since hotel profitability is dependent on the tourist industry, aren't investors taking a big risk to invest in hotels?

Although nobody can make a 100% guarantee about the success of a business venture, NYC hotels are the nearest thing to a perfect investment. Tourists will always come to New York City and they will need hotels of all types. According to NYC & Company, the Big Apple set a tourism record in 2010 with 48.7 million visitors - 6.8% more than 2009.

Mayor Michael Bloomberg explained the importance of the hospitality business to New York City, "The strength of our tourism industry is one of the reasons New York City was less impacted by the national recession than other cities and it continues to be one of the reasons we're growing faster than other cities today."

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

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

Previous Story

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

During the first week of June, about 2,000 executives gathered for the New York University International Hospitality Industry Investment Conference. This knowledgeable group had good

news to offer about U.S. hotels. The gathering advised caution, however, concerning the future economy.

NYC Hospitality Conference

A cautious mood had been expected to infiltrate this event.