RockBridge Announces Acquisition of Two Hotels in New York City
NEW YORK—RockBridge Partners, a division of RockBridge, announced the acquisition of the 224-room Doubletree Hotel Times Square South and the 146-room Hampton Inn 35th Street/Empire State Building. These acquisitions are RockBridge’s first in New York City. James T. Merkel, president and CEO of RockBridge, made the announcement. READER COMMENTS
Both properties are located in Midtown Manhattan and will complete modest renovations to maintain condition. Magna Hospitality is RockBridge's partner in the transactions and will manage the properties.
“We are excited to acquire two high-quality, well-located hotels in Manhattan, which has some of the strongest market fundamentals in the world.” said Merkel in an announcement. “We have looked at a lot of transactions in New York City over the years and these were the first to meet all of the criteria that we look for in an opportunity.”