Marriott acquires W New York – Union Square in $206m deal

Marriott International has purchased the 270-room W New York – Union Square in the heart of Manhattan’s dynamic Union Square neighbourhood.

The company paid $206 million for the property, with plans for a significant renovation.

Marriott will transform the existing hotel into a cutting-edge W Hotels showcase, advancing the company’s strategy to redefine and reinvigorate the brand in North America.

“There’s no better place than New York City to reveal to the world the future of our W Hotels brand, so we’re tremendously excited about this acquisition and the unique opportunity that it presents for our reinvention strategy,” said Arne Sorenson, chief executive, Marriott International.

“When W was launched as a single hotel in New York 21 years ago with ground-breaking design and a bold approach to nightlife, it pushed the boundaries of how people thought about a hotel.”

Located at 201 Park Avenue South, the 20-story hotel features historic Beaux Arts architecture, panoramic views of Union Square’s namesake pedestrian plaza and lively park.

The property first opened its doors in 1911 as the headquarters of the Guardian Life Insurance Company of America, and in 2000 opened as W New York – Union Square, becoming an anchor for locals and out-of-town guests, alike.

The renovation seeks to unlock the property’s untapped potential with plans for a signature, socially-charged spa and an expanded restaurant on one of New York City’s most bustling street corners.

The plan also includes the recent opening of W Aspen – the brand’s first alpine destination in the United States, and the anticipated 2020 debuts of W hotels in Philadelphia and Toronto.

Additionally, W owners in North America have already committed to $200 million worth of renovations on properties across the United States and Canada, such as the recent top-to-bottom renovation of W Washington DC.

Source: Breakingtravelnews.com

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