![]() ![]() Set on the corner of 28th and Broadway, the NoMad Hotel is located just north of Madison Square Park. The menu is complimented by a wine program that celebrates winegrowing regions around the globe, and a unique environment where a glass atrium is surrounded by a series of rooms. The critically acclaimed restaurant is the recipient of three Michelin Stars, and features refined, yet approachable cuisine. Public spaces have soaring ceilings and furnishings designed to provide a gathering place for dining, drinking, and socializing. Mixing the building's original grandeur with the style of Europe's grand hotels infused with New York sensibilities, the hotel's 168 guest rooms and suites have classic and timeless design. Hotel AKA NoMad is coming at the end of the year, and Virgin Hotels New York, a brand-new building at 29th and Broadway, is due in late fall.Housed in a Beaux-Arts building, the NoMad New York is a luxury hotel providing guests with a fully restored retreat. Virgin is voyaging to 29th and Broadway in late fall. The Ned NoMad - part of Membership Collective Group whose various brands include Soho House - opens at the end of June, and the brand-new built Ritz-Carlton New York, NoMad is due in July. ![]() Though Midtown, a traditional tourist hub, saw the high-profile Hard Rock Hotel New York open this spring and the Grayson Hotel is coming shortly near Bryant Park, Midtown-adjacent Nomad is really buzzing with new hotel activity. Historically, five-stars fare better, I don’t think there will be any impact if a recession happens.” “We’re looking at a very bright future despite inflation and interest rate hikes. “We’re two months from opening and we’re already selling the most expensive rooms,” he said. Nomad’s already built Ritz-Carlton property opens in July. Hotels suffered during the pandemic, commodity real estate suffers but the lifestyle product is doing tremendously.”Īt the opposite end of the scale from Radio Hotel, Hôtel Barrière Fouquet’s New York opens this September in trendy Tribeca as an über-luxury lifestyle hotel spearheaded by Joshua Caspi, president of Caspi Development, is confident the top end of the luxury market is recession-proof. “It’s our first hotel, but we wouldn’t take a risk if we didn’t feel confident. “This is a targeted lifestyle project that’s resilient in a downturn,” Woo said. ![]() Radio Hotel is aimed at the local Hispanic community and the needs of nearby Yeshiva University (some “hyper-targeting of amenities” will consider religious dictates). “But, this was an old gas station site and we’ve spent years on remediation work, and got to know the area pretty well.” The Ned NoMad is opening at the end of the month. There is the high-end market there, but nothing like what Thompson brings.”ĭeveloper Bryan Woo, EVP at Young Woo and Associates in Manhattan, is betting that Radio Hotel, which soft opens at the end of July in northern Manhattan, fills a gaping hotel hole in Washington Heights, a location that is way off the beaten visitor map (despite Lin Manuel Miranda’s movie). “But the hotel filled a gap there: A lifestyle hotel was missing. A great location such as Thompson’s is a big factor but, said Rosen, being market savvy is the key to longevity.Ī post shared by Thompson Central Park proximity to Central Park is wonderful for business,” he said. GFI’s latest hotel, Thompson Central Park is in its final opening stage as phase two is completed this fall. It’s still too early to say.”Īccording to NYC & Company, the city’s marketing and tourism body, seven hotels opened in New York City this year so far: six in Manhattan one in Brooklyn. Rosen said bookings at GFI hotels are just about at 2019 levels: “We’re seeing stability in the economy even with the high fuel costs and everything. Then, the pandemic was the worst situation, worse than a recession.” “We’ve been here before and lived through a recession. “We view the market long term,” said Joel Rosen, president of New York-based GFI Hospitality, a real estate development and investment company. With the threat of a recession countering post-COVID shutdown recovery, will hotel developers throw up their hands in despair? Hospitality is typically the first to suffer and the first to recover during economic recessions. And the R-word is lurking in the air - R for recession, that is. Interest rates and inflation are heading up. One of Times Square’s last music shops evicted after nearly 40 years Small-town movie theater with 4 apartments above lists for $1Mįashion designer Tanya Taylor launching first brick-and-mortar boutique Donald Trump pardoned Kodak Black so he could fly into commercial real estate
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