Chesapeake Lodging (CHSP) Announces Acquisition of Holiday Inn in Midtown New York City
Tweet
Share
E-mailGet Alerts CHSP Hot Sheet
Join SI Premium – FREE
Chesapeake Lodging Trust (NYSE: CHSP) announced today that it has closed on the previously announced acquisition of the newly developed, 122-room Holiday Inn New York City Midtown – 31st Street located in New York, New York for a purchase price of $52.2 million, or approximately $428,000 per key. The Trust funded the acquisition with a borrowing under its revolving credit facility. The Trust entered into an agreement with Real Hospitality Group to manage the hotel.
The newly developed Holiday Inn New York City Midtown – 31st Street, located on West 31st Street between 5th Avenue and Broadway, is an 18-story structure with 122 well appointed and modern guestrooms. Each room contains a central HVAC system, large upgraded bathrooms with glass tile walls and inset framed mirrors, glass-enclosed showers, an upgraded vanity and hardware, and large ceramic tile flooring. The room mix includes 94 king rooms, 20 double-bedded rooms, six standard rooms equipped for ADA access, and two suites. The hotel also has a roof top bar with unobstructed views of the Empire State Building and the Manhattan skyline. The Trust leases space on the first floor to Contorno’s Restaurant, an 80-seat upscale Italian restaurant and bar.
The newly developed Holiday Inn New York City Midtown – 31st Street, located on West 31st Street between 5th Avenue and Broadway, is an 18-story structure with 122 well appointed and modern guestrooms. Each room contains a central HVAC system, large upgraded bathrooms with glass tile walls and inset framed mirrors, glass-enclosed showers, an upgraded vanity and hardware, and large ceramic tile flooring. The room mix includes 94 king rooms, 20 double-bedded rooms, six standard rooms equipped for ADA access, and two suites. The hotel also has a roof top bar with unobstructed views of the Empire State Building and the Manhattan skyline. The Trust leases space on the first floor to Contorno’s Restaurant, an 80-seat upscale Italian restaurant and bar.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Inturai Ventures acquires DomeCommand AI drone platform for C$6M
- Array Technologies acquires wire management firm Affordable Wire Management
- NVIDIA to invest $3.5B in Mediatek - Bloomberg
Create E-mail Alert Related Categories
Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
