Host Buys Helmsley Hotel for $313.5 Million
From Bloomberg
NYC’s Helmsley Hotel Bought by Host for $313.5 Million
Host Hotels & Resorts, owner of luxury hotels including Ritz-Carltons in San Francisco and Phoenix, agreed to buy the 775-room New York Helmsley Hotel in midtown Manhattan for $313.5 million. Starwood Hotels and Resorts Worldwide Inc. will initially manage the property, located on 42nd Street, and run it as an unbranded hotel until it’s turned into a Westin in early to mid-2012, the Bethesda, Maryland-based company said in a statement today. The deal is expected to close in March. Click here for the full story.
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