US: Marriott has completed the sale of The New York Edition hotel to a subsidiary of the Abu Dhabi Investment Authority.
US: Marriott has completed the sale of The New York Edition hotel to a subsidiary of the Abu Dhabi Investment Authority.
The sale price is in the region of $343 million, and marks the third sale of an Edition hotel to companies owned by the Abu Dhabi Investment Authority. The others, the London and Miami Beach Edition changed hands for a combined $473 million.
Marriott will continue to manage all three hotels.
Arne Sorenson, Marriott’s president and chief executive officer, said: “Following successful openings of The London Edition and The Miami Beach Edition, we couldn’t be more thrilled to welcome The New York Edition in the iconic Clock Tower building to our portfolio. This hotel will become a flagship for the Edition brand and one of New York’s most exciting places to stay when it opens later this spring.”
The New York Edition will feature 273 guestrooms and suites, a restaurant, meeting and event space, a lobby bar, fitness centre and a spa.
Other Edition hotels are planned for West Hollywood, New York (Times Square); Bangkok, Thailand; Sanya and Wuhan, China; Bali, Indonesia; and Abu Dhabi, UAE.
edition-hotels.marriott.com
