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Developers Select Kor Hotel Group to Operate a 168 room Viceroy Hotel
to be Built Atop Office/Retail Complex in New York City's
Hudson Square Neighborhood
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NEW YORK - April 23, 2008 - Kor Hotel Group, a growing presence in world-class hospitality, is proud to announce its first hotel planned for Manhattan. Kor, under a management agreement with 330 Hudson Owner, LLC, will support the development and ongoing management of its first project in one of the world’s preeminent hotel destinations, New York City. The project is being developed by Tribeca Associates, LLC in partnership with Square Mile Capital Management, LLC and Latus Partners, LLC.

“Our expansion into New York City is extremely exciting. Visibility in this major international city has been a goal of ours for some time now. We are looking forward to this venture and believe that our Viceroy brand will thrive in the cosmopolitan, urban sophistication that New York exemplifies,” said Kor Hotel Group Founder and CEO, Brad Korzen.

Viceroy’s first New York City project will offer 168 exquisitely appointed accommodations set within the top 12 newly constructed floors of an office, retail and hotel complex being developed on a full city block at 330 Hudson Street between Charlton and Vandam Streets in New York’s Hudson Square neighborhood.

Hudson Square, which sits adjacent to both Tribeca and SoHo, is fast becoming one of New York’s most exciting new business districts. The area is now home to a diverse group of companies, including numerous production, fashion, entertainment and advertising firms such as Saatchi & Saatchi, Miss Sixty and CBS Radio. MTV Networks announced in May 2007 the relocation of its headquarters to a site directly across the street from the planned Viceroy site.

The hotel will also cater to meetings and events seeking creative space with a variety of unique areas and amenities, including a 22nd floor rooftop terrace featuring an outdoor pool with cabanas. One level below, on the connecting 21st floor, a VIP boardroom, lounge and separate meeting space provide an additional 2,700 square feet of flexibility. Together the 21st and 22nd floors will provide over 9,000 square feet of available space with remarkable views across lower Manhattan and the Hudson River, adding to Viceroy’s allure.

Like other Viceroy destinations in Santa Monica and Palm Springs, as well as upcoming projects in Miami, Anguilla, Colorado, Vietnam’s China Beach and Mexico’s Riviera Maya, the Hudson Square property will showcase the Viceroy brand’s intuitive service and provocative design.

In New York, Viceroy will feature the architecture of Brennan Beer Gorman, with interior design by Yabu Pushelburg. Personalized and uniquely customized services — including signature dining venues that reflect the distinctive character of their settings; a full-floor event space on the 21st level, designed for social events or meetings; and an indoor-outdoor courtyard at the lobby level with reflecting pond and garden — will provide hotel guests, visitors and local patrons with an unprecedented and innovative approach to the hotel experience in New York.

World-renowned architects Brennan Beer Gorman (BBG) and interior designers Yabu Pushelberg will lend their extensive expertise in the design of hotels and resorts to Viceroy’s debut in New York. Previous BBG projects include the Mandarin Oriental Hotels in New York and Washington, D.C.; W Union Square; Gramercy Park Hotel; and the Peninsula, Bangkok. Toronto-based Yabu Pushelberg counts among its clients Four Seasons Hotels & Resorts, Mandarin Oriental Hotel Group, Peninsula Hotels, Bergdorf Goodman, Tiffany & Co. and Carolina Herrera.

Viceroy in New York will be located at 330 Hudson Street at Charlton & Vandam, just north of Tribeca and on the western fringe of SoHo.

Viceroy hotels, resorts and residences exemplify a passion for authentic, world-class, visionary design and intuitive service. From skyscraping cities to pacesetting playgrounds, every Viceroy destination reimagines the essence of style and service and inspires discriminating guests and residents to indulge in glamour, reinterpret cultural traditions and redefine their notions of luxe living. Current Viceroy properties include Viceroy Santa Monica and Viceroy Palm Springs. Under development are Viceroy Miami, Viceroy New York at Hudson Square, Viceroy Mayakoba in the Riviera Maya on Mexico’s Caribbean coast, Viceroy Zihuatanejo, Viceroy Snowmass in Colorado, Viceroy China Beach in Vietnam’s central Danang province, as well as Kor’s initial overseas venture, Viceroy Anguilla in the British West Indies. The official site for the Viceroy brand is viceroyhotelsandresorts.com.

The Kor Group is a privately held real estate development and management firm with investments primarily in hotels, resorts and multi-family real estate. Kor Hotel Group, the Los Angeles-based hospitality division of Kor, manages its own assets, non-owned hotels under third-party agreements and operates two proprietary elite-tier brands: Viceroy with properties in Santa Monica and Palm Springs; and The Tides with locations in South Beach, Riviera Maya and Zihuatanejo, Mexico. Kor’s urban retreats include Avalon Hotel and Maison 140 in Beverly Hills, Delfina in Santa Monica, Gateway in Los Angeles, Chamberlain in West Hollywood and Loden in Vancouver. Viceroy and Tides projects in Miami, Anguilla and Riviera Maya are forthcoming.

Square Mile Capital Management LLC, a diversified real estate investment firm with offices in New York City and Greenwich, Connecticut, focuses on sourcing and managing real estate and related equity, and debt and hybrid investments on behalf of select institutional and private investors.

Tribeca Associates, LLC, a Manhattan-based investment and redevelopment real estate firm, specializes in acquisitions across a broad spectrum of commercial, residential and hospitality real estate investments. Tribeca Associates prides itself on its ability to leverage industry relationships to secure business opportunities and to retain highly capable architecture, engineering, contractor and property management resources for the execution of its various projects.

Latus Partners, LLC is the sponsor of Latus Real Estate Partners I, LP, a real estate private equity fund whose real estate investments and transactions target attractive, risk-adjusted returns and capital preservation for its investors. Latus Partners is co-managed by Bradley A. Settleman and Howard Glatzer.

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Contact:

Kor Hotel Group
Daniel Guerrero
Director of Public Relations
323-930-3832
daniel.guerrero@korhotelgroup.com
viceroyhotelsandresorts.com
 

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Also See: Viceroy Hotels and Resorts Partnering with Indochina Land and Secured Capital Japan to Develop Resort on Vietnam’s China Beach / December 2007
Related WestPac Receives Approvals to Breakground on the 236 unit Viceroy Snowmass at Snowmass Base Village; Ski-in/ski-out Property to be Operated by Kor Hotel Group / October 2007
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