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Riu Hotels opens new flagship property in NYC

The 647-room Riu Plaza New York Times Square opened its doors at the heart of Manhattan. The $310 million property represents the largest single investment in the history of the Spanish hospitality group.

The opening represents a historical milestone for Riu Hotels & Resorts: it has been three years since the operator invested in a land plot near Times Square to build a 29-floor hotel for $310 million. The group just opened its new flagship address, 647-room Riu Plaza New York Times Square. Boasting two restaurants and conference rooms, the address is located a stone's throw from the iconic Times Square, at 8th Avenue and 46th Street.

The group, which also operates the address Riu Plaza Miami Beach, is exploring opportunities to develop additional properties across the United States, with mentions of Boston and San Francisco. The urban brand Riu Plaza consists in a global portfolio of five hotels: the hotels Riu Plaza Berlin, Riu Plaza Guadalajara and Riu Plaza Panama, and the two US properties heretofore mentioned. Riu Hotels is currently owned by TUI Group (50%). According to data published by Hospitality ON, the latter ranked as the 15th hotel group worldwide in terms of rooms as of January 2016, with a portfolio of 316 hotels totalling around 100,000 rooms.



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