Joint venture acquires, rebrands the Affinia Manhattan

Patriarch Equities, Sioni Group and Highgate purchased the 618-room Affinia Manhattan NYC hotel through a joint venture. Highgate also assumed management of the property as part of the transaction.

Effective immediately, this upscale, full-service hotel has been re-branded the Stewart Hotel. The property is located at 371 Seventh Avenue, across from Madison Square Garden and Pennsylvania Station, steps from Times Square and Fifth Avenue. The 28-story, 474,000-square-foot hotel offers modern guestrooms and suites by design firm Rockwell Group, as well as over 10,000 square feet of event space.

"Highgate is thrilled to complete the acquisition of Affinia Manhattan NYC, now the Stewart Hotel, along with our new partners at Patriarch Equities and Sioni Group,” Neil Luthra, principal at Highgate, said in a statement. "The Stewart is an exciting addition to Highgate’s collection of independent hotels, particularly given its desirable location at the crossroads of an area that should see meaningful investment and redevelopment activity in the coming years.”

Virtual Event


Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

The property includes access to a restaurant, gym and studios or suites with full kitchens. The property is one block from Penn Station and Madison Square Garden, and guestrooms include flat-screen satellite TVs, iPod docking stations, a seating area and a desk. Guests are offered in-room spa services as well.

Highgate is a real estate investment and hospitality management company, with a focus in gateway markets including New York, Boston, Miami, San Francisco and Honolulu. Highgate maintains corporate offices in New York, London, Dallas, Chicago and Seattle.

Suggested Articles

The company's main markets are still substantially affected by the measures rolled out to combat the COVID-19 health crisis.

Revenue per available room and occupancy increased over Q2, but uncertainty around the industry’s recovery remains.

The integration aims to provide hoteliers with seamless and complete visibility over group, catering and event sales performance activity.