Hilton Garden Inn New York/Times Square Central

On January 18, 2011, we entered into a purchase and sale agreement to acquire, upon completion, a hotel property under development on West 42nd Street in Times Square, New York City. Upon completion by the third-party developer, the hotel was expected to contain 282 guest rooms.

On August 29, 2014 we acquired the 282-room Hilton Garden Inn New York/Times Square Central.

The hotel is located on 42nd Street between Avenue of the Americas and Broadway. It is steps from Broadway theaters and famed Bryant Park as well as within walking distance to iconic New York City attractions including Madison Square Garden, Rockefeller Center, Radio City Music Hall, Jacob Javits Convention Center, many museums, nightlife and shopping.

The hotel is newly constructed and features floor to ceiling glass windows offering unparalleled views of Times Square and the New Year’s Eve Ball Drop. The hotel is designed to have a boutique hotel feel with a contemporary lobby that conveys a modern experience for today’s traveler. Within the hotel lobby is the hotel’s onsite restaurant, The Garden Grille. The Hotel also features a 24-hour Pavilion Pantry® convenience mart located in the hotel lobby, which offers snacks, drinks, and sundries.

The hotel offers stylish guestrooms in a variety of configurations to accommodate all guests, including king bed, queen bed, and dual double beds configurations. Each guestroom features extra-large 50-inch LCD HDTV, refrigerator, microwave, laptop size safe, MP3 compatible alarm clocks and large work desk with ergonomic chair.

The hotel’s additional amenities include a 24-hour self-service business center and a 24-hour state-of-the-art fitness facility. Meeting space includes a pre-set Boardroom with the latest presentation technology to capitalize on small group business.

The hotel will be operated by Highgate Hotels, the single largest operator of hotels in New York City.