
The hotel group has completed the previously contracted sale of The New York Edition hotel for net cash proceeds of approximately $343 million.
The New York Edition sits directly across from Madison Square Park, centrally located on 24th Street and Madison Avenue. Originally built in 1909 as the headquarters for The Metropolitan Life Insurance Company, the historic 41-story clock tower is a New York landmark. The hotel's interior, designed by world-renowned architect David Rockwell, will evoke the intimacy of a private home. The New York Edition will feature 273 guest rooms and suites with spectacular views of the city as well as a restaurant, versatile meeting and event space, an intimate lobby bar; and a state-of-the-art fitness center and spa.
Other Edition hotels are planned for New York (Times Square); Bangkok, Thailand; Sanya and Wuhan, China; Bali, Indonesia; and Abu Dhabi, UAE with ongoing discussions for other exciting locations.
On January 1, 2014, Marriott International was third in the global hotel group in terms of number of rooms, according to the ranking realized each year by MKG Hospitality, hospitality consulting firm founded by Georges Panayotis. At the time it had 653,719 rooms in 3,783 hotels. (read our report)
