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NEW YORK CITY — A partnership between hotel investment firm Chartres Lodging Group and Apollo Global Real Estate Management has completed the purchase of Novotel New York Times Square, a 480-room hotel on 52nd Street and Broadway. The seller was a subsidiary of Accor Business and Leisure Management, which will continue to operate the hotel under the Novotel flag. The partnership plans to renovate the property by adding meeting rooms, a new fitness center and renovating the guest rooms and Terrace Bar overlooking Times Square. The purchase price was undisclosed.