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Inn Demand

Inn Demand

Greenwich Street Has New 20-Story Hotel Checking In

A 50,000-square-foot, as-of-right commercial development site smack at the center of three of Manhattan’s most desirable neighborhoods has been acquired for $12.7 million by a hotel developer, brokers told The Observer.

The site at 523-25 Greenwich Street, near TriBeCa, SoHo and the West Village, was sold to Fortuna Realty Hotel SoHo, all but guaranteeing another Read More

Inn Demand

Extell’s Hudson Square Hotel Dreams

We’d all but forgotten that Gary Barnett’s Extell once planned to build a luxury hotel in Hudson Square, just two blocks from the Trump Soho. But the developer has received a $13 million mortgage on the site, according to public records.

On the final day of June 2009, Extell filed plans for a 35-story, 180,000-square-foot Read More

Inn Demand

Cheeky Brits Target New York Hotel Space

Brace yourselves for months of “in bed” jokes. After much whispering, the Virgin Group is finally launching its new hotel chain and New York is definitely on the list.

“I’ve had great fun turning quite a lot of different industries on their heads and making sure those industries would never be the same because Virgin Read More

Inn Demand

So Hip, So Troubled: W Union Square Trades

A hotel chain has purchased the hip, but troubled W Hotel in Union Square for well below the price it fetched at the height of the market. 

Host Hotels and Resorts, based in Bethesda, Md., has purchased the hipster vacation paradise for $185.2 million, city records show.

The W features a two-story Mediterranean restaurant with Read More

Inn Demand

Get a Room? Get Some Cash! Hotel Rates Rising

It’s now or never folks, because the bonanza of cheap hotel rooms in New York City is nearly over, according to The New York Times. As with so many deplorable Times Square phenomena, we have the business travel community to thank for the recovering hotel industry.

[NYU professor Bjorn] Hanson estimated that the number Read More

Inn Demand

Herald Square Office Building to Become Hotel

The real estate group that recently bought a Herald Square office building for a bargain-basement discount has decided to turn it into a hotel.

Hidrock Realty, which bought the old Atlantic Bank building at 960 Avenue of the Americas for just $40 million—$65 million less than its former owner paid for it just three years Read More