PHOENIX, Ariz.—Officials of Ardent Hotel Management Company today announced that the company has been engaged by a Middle Eastern investment company to manage two institutional, select-service hotels in Manhattan.
The newly built hotels, the 148-room Hampton Inn United Nations and the 135-room Holiday Inn Express Herald Square, are recent acquisitions in prime, mid-town locations.
The assignments come on the heels of 1754 Properties’ recent acquisition of an interest in Ardent. 1754 Properties LLC is an institutional investment and ownership company specializing in hotels properties in urban and infill resort areas.
“We look forward to operating in Manhattan once again and leveraging the prior New York hotel experience of our principals to achieve maximum results for these two prime assets,” said Si Sloman, president of Ardent. “We will continue to grow our management services to institutional owners of urban hotels.”
“This transaction with a premier international investment group is representative of Ardent’s capabilities and future growth potential,” said Joe Smith, founder of 1754 Properties.
Opened in February 2013, the Hampton Inn United Nations is located between the United Nations and Grand Central Station, the city’s transit hub. Situated in a neighborhood of upscale residential towers and more than 35 million square feet of Class A office space, the area is home to such major corporations such as Pfizer, Mitsubishi, Wells Fargo, UNICEF, and United Nations member nations. The hotel offers a 24-hour business center, fitness center access, complimentary in-room internet service and Hampton’s signature complimentary, hot breakfast daily.
The Holiday Inn Express is located in the heart of the fashion district near Herald Square. The hotel also is convenient to Times Square and Penn Station with a view of the Empire State Building. For business travelers, the hotel is within walking distance of headquarters for Bank of America, Viacom, Morgan Stanley, Marsh & McLennan, Google ABC, Verizon, and McGraw Hill. Tourists appreciate its easy proximity to Herald Square, Broadway theaters, and Madison Square Garden. The hotel offers a complimentary breakfast buffet, key accessible fitness center, 24-hour business center, and complimentary internet service.
“We worked hand-in-hand with the owner to identify the upside potential in the assets before they were acquired, and we look forward to executing our business model to bring that potential to fruition,” Sloman said.