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Strategic Hotels and Resorts acquires New York's Essex House Hotel
By Pete Hayman
Image: Essex House Hotel overlooks Central Park
Strategic Hotels and Resorts has entered into an agreement to acquire Essex House Hotel in New York, US, from the Dubai Investment Group for US$362.3m (EUR288.7m, £229.5m).
The 509-bedroom hotel is to be rebranded as the JW Marriott Essex House New York after the group also secured a 50-year management deal with operator Marriott International.
Jumeirah Group is the former operator of Essex House Hotel, which currently includes a spa with steamrooms; saunas; men's and women's relaxation lounges; and personal soaking tub.
Future plans for the spa have yet to be confirmed, although Strategic Hotels and Resorts is to invest US$18.3m (EUR14.6m, £11.6m) in "various" improvements to the hotel.
Other facilities at the Essex House Hotel include a fitness centre, a fine-dining restaurant and meeting space. It first opened in 1931 and towers 40 floors overlooking Central Park.
An affiliate of Strategic Hotels and Resorts had owned the hotel before selling it to the Dubai Investment Group in 2005; a deal which included 605 bedrooms and 10 condominium units.
Strategic Hotels and Resorts president and CEO Laurence Geller said: "I am pleased that we are able to reacquire this landmark asset and convert it to the first JW Marriott in Manhattan."
Marriott International president and CEO Arne Sorenson added: "We believe there is substantial upside for this hotel as a JW Marriott brand, especially when combining our sales and marketing channels with the excellent asset management expertise of Strategic Hotels."
Click here for more details about Strategic Hotels and Resorts' acquisition of Essex House Hotel and the management agreement with Marriott International.
Image: ralph and jenny/flickr
Strategic Hotels and Resorts has entered into an agreement to acquire Essex
House Hotel in New York, US, from the Dubai Investment Group for US$362.3m
(EUR288.7m, £229.5m). The 509-bedroom hotel is to be rebranded as the JW
Marriott Essex House New York.
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