News for the Hospitality Executive |
Ocean City,
Md. (June 23, 2011) – Executives at Real Hospitality sign deal with
Gehr
Development, retaining the management contract on the 244 room Four Points Midtown
Times Square.
Gehr Development, which owns the 33-story Fairfield Inn by Marriott
Times
Square at 330 West 40th Street, completed the acquisition of the
adjacent Four
Points by Sheraton Times Square, at 326 West 40th Street, for $112
million, or
approximately $460,000 per room. The
deal establishes Gehr Group’s presence in the New York hotel market. Real
Hospitality Group (RHG), established in June 2010 and headquartered
in
Ocean City Md., operates both hotels for the Gehr Group.
"We wanted the adjacent hotel because we like the strong brand, the location and we also own the rooftop lounge, Sky Room Times Square, which straddles the 33rd and 34th floors of both hotels," said Gehr Group president David Lifschitz, who also confirmed that the company would not be joining the two hotels, which sit between Eighth and Ninth avenues. The Sky Room’s location offers sweeping views of Manhattan to the north and south of the hotels. “The Real Hospitality Group team has a proven track record of growth and success in our industry,” offered Alfred Somekh, President for Gehr Development. “We have forged great relationships with our client ownership groups thus far,” said Ben Seidel, President and CEO for RHG. “Our working knowledge of the hotels and an understanding of both the market and the ownership objectives create the business model for success in these hotels.” RHG is a
recognized management company by Starwood, Hilton, Marriott, Wyndham,
IHG and
Choice Hotels. The company currently
manages 2,554 guest rooms in Manhattan, Queens, Brooklyn, Montauk,
Philadelphia,
Morgantown and Fairmont, W.Va. and in the Lake George, Saratoga Springs
area of
New York. The portfolio also includes the state-of-the-art Morgantown
Event
Center with over 25,000 square feet of exhibit space, the new Wharf
Brew Pub, a
free standing waterfront restaurant in Morgantown’s growing Wharf
District and
the Sky Room, the high profile, Manhattan rooftop club overlooking
Times
Square, New York. For more
information: www.realhospitalitygroup.com |
Contact: Rick Day (410) 213-1970 |
Also See: |
Real
Hospitality Group & Starwood Open Aloft New York Brooklyn; Karl
Baugher Opening General Manager / June 2011 |