The New Yorker hotel completes $70-million renovation

NEW YORK, NY (Feb. 25, 2009) - Eighty years after first breaking ground in 1929,
 The New Yorker Hotel has greeted the new year with a renewed spirit and fresh style following the completion
of a massive 18-month, $70 million renovation.

Celebrating the re-launch of the legendary hotel in 2009, The New Yorker Hotel plans
to welcome back past guests and introduce new friends to experience its rich, historic
past while offering a revived, modern look and enhanced services. One aspect that
will forever remain unchanged, however, is the first-class service for which the
 hotel as always been renowned.

The design concept is the exotic and glamorous New York/Hollywood art deco style
 of the 1930's, as a nod to the hotel's past, but with a distinctive modern edge.
NYC-based Stonehill & Taylor was tapped to conduct the project with art-deco-inspired contemporary interiors
featuring geometric patterns, skyscraper-style case goods (such as bookcases and
 desks), customized lighting, and high-contrast gold and silver against dark zebra
wood and chocolate upholsteries.

The scope of the renovation was extensive, evident by the magnificence of the finished
product. Highlights of the renovation project include:

* Increased Room Inventory - Prior to the renovation The New Yorker Hotel had 860
hotel rooms. The hotel now features 912 guest rooms (64 of which are suites), all
re-styled and remodeled, located on the top 21 floors of the building - floors 19
to 40 (the first 18 floors are dedicated to commercial tenants). Through the renovation
process, 80 of the smaller rooms were converted into 40 rooms because of market
demand for rooms with double-double configurations. The increase in the overall
room count post-renovation is due to the fact that several floors housing commercial
tenants were re-converted to hotel guest floors.

* New Rooms, New Style - The renovation included a total overhaul of furniture,
carpets, wallpaper and fixtures in both the guest rooms and hallways on all guest
floors. Restoring the hotel to its former glory, Stonehill & Taylor's design
 replaced floral carpets and quilted bedspreads with art-deco-inspired interiors
 featuring geometric patterns.  Updated lighting has been introduced in the form
 of brushed stainless steel torchieres with mica shades and dome-topped, pull-chain
desk lamps.  Overhead lighting is provided by a custom-designed, six-point star
to create a Hollywood search-lights effect in beams along the ceiling.  Creating
 a feeling of luxury, walls with two windows are fully covered with shimmering draperies,
and a geometric-patterned carpet subtly echoes the upholstered diamond-stitched
headboard.

The New Yorker Hotel features 912 guest rooms - all re-styled and re-modeled.

* Guest Bathrooms - New tapered pedestal sinks and arched shower curtains add curvature
to the space, while custom mirror and glass shelf assemblies make the room more
functional. A panel of back-painted glass updates the previous period wall tile,
 while chrome-finish faucets and fittings bring the details of the room into a contemporary
style.

* New Heating/Cooling System - A major aspect of the renovation project was the
installation of the new four-pipe, HVAC system throughout the entire hotel. This
 new, truly state-of-the-art system allows guests to control both the heat and the
air-conditioning all year long, a feature not found in many hotels.

* Redesign of Lobby - A new lobby of grand design includes the restoration of the
original luxurious marble floor (previously covered by carpet), the addition of
lounge seating, and the installation of a feature chandelier dramatically extending
down to a mirrored coffee table to create a focal point in the large open space.
 Other changes include a gold-coffered ceiling in the double-height lobby, brand
 new check-in and concierge desks, new restaurant facades opening to the lobby,
and new signage throughout the public space.

Guests are welcomed into a completely renovated lobby upon entering The New Yorker
Hotel.

* Eighth Avenue Facelift - Signage has been replaced, stonework has been refaced
 and there is a new marquee. New, automatic revolving entrance doors welcome guests
to this revitalized gem in the heart of Manhattan and expansive windows open the
 entire lobby to a well-lighted view.

* Guest Services Enhancements - In addition to the cosmetic part of the project,
 The New Yorker Hotel upgraded various guest services including free guest Wi-Fi
 in all rooms and the lobby, adding more bandwidth (powered by a 44 megabyte, fiber
optic pipeline) to increase speed of access, and changing its video-on-demand supplier
to provide enhanced television programming and a more extensive selection of pay-per-view
movies and events.

The six-story ,iconic bright red "New Yorker" sign, which was first lit in the 1950's
and replaced by a modern LED sign in 2005, is the largest of its kind in North America.
It is far more energy efficient and can easily be seen from as far away as New Jersey
as it stands out in midtown New York.

Conveniently located at 34th Street and Eighth Avenue in Manhattan, across from
Madison Square Garden, The New Yorker Hotel is one of the largest art deco buildings
in New York City.

Well-suited for groups, business and leisure travelers as well as anyone seeking
 a great value and an unrivaled location in Manhattan, The New Yorker Hotel features
912 guest rooms (several with terraces and all offering spectacular views), 25,000
square feet of meeting space (two stately ballrooms and 12 meeting and conference
rooms), an award-winning catering department, the 24-hour Tick Tock Diner and Cooper's
Tavern, a complimentary Fitness Center, and a fully-equipped Business Center.

For more information about The New Yorker Hotel, contact toll-free in the U.S. and
Canada 866-800-3088 or visit http://www.NewYorkerHotel.com
 

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