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Regular Hotel Record Sale

Thanks to The Standard When The Standard Hotel had been built in 2008, New York City and the entire world was in the midst of a terrible financial crisis.
That meant clubs plus restaurants were closing right and left. Traders scoffed at anything lux since consumers pinched pennies and watched wallets.
But all that's more than, and five years later The Standard - known for its exclusive night clubs, late-night upscale dining, and Sunday night bingo games where individuals dance on tables - is about to be sold for the highest price of any kind of hotel since the financial crisis, the WSJ reports.

Investor Steven Kantor can shell out over $400 million in order to owners Dune Real Estate Partners plus Greenfield Partners. That's $1. two million a room.
Part of this achievement has to be attributed to the hotel's management company owned by Andre Balazs. It was he who turned the hotel into an adult playground.
Downstairs you have upscale bro'd out ale garden and the Standard Grill, a good "American Bistro" that's open past due enough to cater to insomniac guests and NYC partiers. The super-exclusive Boom Room upstairs is known for its near 360 degree views from the Hudson River, and Le Bain, its hipper sister club produces some of the best DJs in international dancing music (and has a killer roof...

and a warm tub).
The various other part of this success has to do with the particular hotel market right now. As you may have got noticed from Hilton's wildly successful IPO, it's booming.
Back keep away from, when we talked to Ryan Meliker, a senior analyst, Equity Research for investment bank MLV and Co. about Hilton, he stated the hotel industry in general is within a really good place right now. As the worldwide economic recovery continues, demand increases.

At $22 billion, U. S. hotel transactions in 2013 were 10 times higher than in 2009. What's more, during a recovery, it's easier intended for cheap hotels london city airport to raise room rates compared to it is for office or home buildings. That means they're in a better position to take advantage of the money floating around, which investors love.

While some major players are taking this chance to buy - like Lowes which is looking to buy about half a dozen properties, according to CEO Paul Whetsell. Others are getting it as an opportunity to sell. Blackstone is planning to IPO another resort chain it owns, La Quinta.

Another way companies are investing in the industry is by franchising - ramping up the number of hotels it manages but doesn't own. Companies like Starwood and Marriott have already headed in that direction.
Sounds like this is an industry to watch in general.

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