Holiday Inn

Heena sells midtown New York Holiday Inn for $52M

12 Jan, 2012

CoStar Group reports that Heena Hotel LLC has sold the newly developed 122-room Holiday Inn hotel located at 30-32 W. 31st St. in New York to Chesapeake Lodging Trust for $52.2 million—about $428,000 per room. The buyer is expected to open the brand new hotel this month. The 60,270-square-foot, 18-story hotel was completed in 2011.The hotel also houses Contorno's, an 80-seat Italian restaurant and bar that has already opened. The hotel does not offer conference space, instead the space was absorbed by a fitness center to reflect current market demands. Neither party was represented by a broker in the transaction, CoStar reports. Management of the hotel will be through Real Hospitality Group.

Topic : Holiday Inn, New York, Heena, Chesapeake Lodging
External Source : CoStar Group

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