NEW YORK CITY — Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT), with its owner and developer partners, have invested more than $400 million to revitalize its New York City portfolio of hotels. Newly renovated properties include the Sheraton brand’s flagship hotel Sheraton New York Times Square Hotel, W New York–Times Square, W New York–Union Square, W New York, The Westin New York at Times Square and The Westin New York Grand Central.
Starwood, which has 21 hotels in New York City, has also expanded its New York City portfolio with the addition of three hotels, including The Chatwal hotel, Sheraton Tribeca New York Hotel and W New York–Downtown. “We have not only made a significant investment in our New York City hotels, but have also added even more breadth to our portfolio through strategic conversions in many of the city’s most dynamic neighborhoods,” says Mary Casey, senior vice president of sales, North America, of Starwood Hotels & Resorts.
The Sheraton brand’s flagship hotel, Sheraton New York Times Square Hotel, completed its top-to-bottom renovation in March. Its fitness center, all 1,781 guestrooms and suites, public areas and meeting facilities have been renovated. The hotel’s 60,000 square feet of fully renovated meeting space is infused with light and features a design scheme with warm tones and geometric patterns.
W New York–Union Square launched its newly redesigned Living Room in April, the final stage of the hotel’s multi-layered renovation project. Inspired by the neighborhood’s merging of traditional and contemporary styles, the new Living Room was designed by New York-based Krause + Sawyer. The hotel’s renovation also included all 270 guestrooms, the Extreme WOW and WOW suites (the W brand’s take on top suites), Todd English’s Olives restaurant and the destination bar Lilium by Gerber Group. The complete transformation is part of W’s ongoing, $100 million commitment to renovating 11 of its properties across North America.
W New York–Times Square completed a renovation of its Extreme WOW and WOW suites. Highlights from the renovation include a dining room table for eight that spins and rises hydraulically to become a bar, two plum-hued hanging chairs in the living room, a circular bed with views of the New York skyline, a new sound system, kitchenette and a built-in DJ booth. W New York, located at 541 Lexington Ave., has completed renovations to its 9,020 square feet of meeting facilities. Designed in collaboration with New York-based interior firm D-ash design, each modern space combines form, function and cutting-edge design to offer a sophisticated urban escape.
The Westin New York at Times Square also recently renovated 330 deluxe rooms, which include large flat screen televisions, a floating desk, new colors and enhanced bathrooms with added vanity and shelf space. The hotel also features a newly renovated and complimentary 24-hour fitness studio. The Westin New York Grand Central debuted in October 2012 after completing extensive renovations to the historic, landmark property, formerly known as the New York Helmsley Hotel. The multi-million dollar renovation resulted in a complete redesign of the hotel’s 774 guestrooms and its more than 14,000 square feet of renovated meeting and event space.
Starwood Hotels & Resorts Worldwide’s stock price closed Monday at $65.53 per share, up from trading at $56.76 per share a year ago.
— Rachel Goff