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Opened in 1990 The 770 room Crowne Plaza Times Square Manhattan
Finishing a $85 million Renovation and Gaining a New Name -
The Broadway 49 - Times Square; Adds Butler Floor

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NEW YORK, August 26, 2008 –  Broadway 49 - Times Square, is due to complete an astounding $85-million-dollar reinvention and usher in an era where butlers, concierge floors, a 24-hour restaurant and the island’s largest indoor pool are all part of the vacation or business Playbill.  The new property will deliver guests an unparalleled and unexpected luxury experience.  The revival of the 46-story, 770-room property – the only hotel in the theatre district with an entrance on Broadway (between 48th and 49th streets), is sure to garner a standing ovation from business travelers and vacationers alike.  

The flagship property, managed by IHG (InterContinental Hotels Group) [LON: IHG, NYSE:IHG (ADRs)] one of the world's largest hotel groups by number of rooms, first opened its doors in 1990 and has always been a popular choice for visitors looking to stay in the heart of New York City.  

Broadway 49 - Times Square, is owned by The City Investment Fund L.P. under a license agreement with a company in the InterContinental Hotels Group.  The City Investment Fund L.P. is an investment vehicle created expressly to pursue opportunistic real estate investments within the five boroughs of New York City, and is co-sponsored by The Morgan Stanley Real Estate Funds (MSREF), an affiliate of Morgan Stanley, and Fisher Brothers, one of New York City’s preeminent builders and owners of commercial real estate.

“The City Investment Fund, L.P. is thrilled to be involved in this property reinvention.  This was our first venture into hotel properties; we saw an inherent value in the address and we had to be a part of it,” said Joseph M. Zuber, Chief Investment Officer, The City Investment Fund, L.P.  “New York City is all about location and this property pairs the best in accommodation and service with one of the most recognizable addresses in the world – Times Square.”

The exclusive Butler Floor is the first and only of any hotel in Times Square.  Comprised of 16 rooms on the 46th floor, these accommodations feature breathtaking views of Manhattan and offer complimentary services including private transportation to the hotel, in-room check-in and check-out, packing and unpacking services, laundry pressing, and dry cleaning. 

The Concierge Levels (floors 41 to 45) consist of 128 guest rooms, all of which feature spectacular views of Times Square, wireless and hard-wired Internet usage, access to a private business center, complimentary breakfast and preferred seating at the American Bistro Restaurant where the guests will also receive a complimentary bottle of wine chosen by the hotel sommelier. 

“This hotel is not just a place to rest your head at the end of the day, it is about an overall experience,” said Asaad M. Farag, General Manager of Broadway 49 - Times Square.  “This property delivers unexpected solutions in an urban environment – the heart of Manhattan – that is wonderfully chaotic.” 

In addition, the hotel has partnered with New York Sports Club to provide guests a 29,000-square-foot in-property health club which includes exercise equipment, classes and a 50-foot indoor lap pool, the largest in Manhattan.  

DETAILS BY DESIGN 

Broadway 49 - Times Square partnered with industry visionaries, Wilson Associates New York, to create a distinctive and memorable space.  The reinvented lobby offers an elegant setting amidst the energy and vibrancy of Times Square.  The design scheme is classic, timeless, and accented by eye-catching elements. 

Guest rooms are designed to create a calming oasis high above the vivacity of New York’s bustling landscape.  Soothing colors produce a comfortable, plush environment complete with thoughtful details.  Each guest room features tuffeted high headboards, rich dark-wood finishes, all-white crisp linens, classic navy blue bed throws, decorative light fixtures, and a bold, striped chaise lounge to ultimately create a tailored look.  All guest rooms will feature the Crowne Plaza Sleep Advantage which includes new pillow top mattresses, sleep CD with relaxation tips, sleep amenities and guaranteed wake-up call.  Each guest bathroom has been enhanced with flattering, soft light and decorated with a light-colored stone for a clean, fresh effect.  

The property also features a customized sound system, which was designed by a creative music director to perfectly pair music selections with every space throughout the building.  Pre-selected music was designed to complement lighting schemes and reflect the function of each space.

In the city that never sleeps, where travelers arrive from destinations all over the globe at all hours, it makes sense to offer a restaurant that never sleeps. The American Bistro Restaurant is inspired by a classic counter-dining setting.  Amidst the mass of overdone theme restaurants in Times Square, the American Bistro Restaurant offers exceptional food paired with a simple, classic interior that guests and locals alike will celebrate and embrace.  

The space features seated dining for 165 people as well as a “grab-and-go” area, specifically designed for the on-the-go business traveler.  Acrylic panels set against white stone are striking compliments to the unique artwork which creates a charming and welcoming environment.  

The Highlands Lobby Bar plays off a signature single malt scotch theme; the space is infused with amber hues set against dark woods and a striking, backlit onyx bar resulting in a classic, masculine look.  A scotch sommelier will help guests negotiate and learn about the pure and distinct tastes of the sophisticated aged spirit.

From executive board meetings to large conventions and memorable social functions, Broadway 49 - Times Square offers 24,551 square feet of meeting space.  The property offers a comprehensive meetings program to ensure a seamless planning process and an exceptional experience consisting of three key components: a Two-Hour Response Guarantee, a Meetings Director and a Daily Meetings Debrief.

The hotel features onsite valet parking and offers two full-service Business Centers with a full range of office essentials, including wireless Internet service, printing, shipping, facsimile, mobile phone rental, secretarial services, copying and office supplies.  

For reservations, call 1-800-2CROWNE.
 

InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is one of the world's largest hotel groups by number of rooms.  IHG owns, manages, leases or franchises, through various subsidiaries, over 4,000 hotels and more than 590,000 guest rooms in nearly 100 countries and territories around the world.  

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Contact:

Angie Orth, Weber Shandwick
T: 212-445-8303
E: aorth@webershandwick.com
 

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Also See: The Newly Constructed, 24-story Holiday Inn-Manhattan 6th Avenue Provides IHG the Opportunity to Feature New Sign and Brand Standards / June 2008
Asaad Farag Appointed General Manager of the Conrad Istanbul / March 2004
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