Ashford Trust Completes Acquisition of The Embassy Suites New York Midtown Manhattan For $195 Million

January 24, 2019

DALLAS, Jan. 24, 2019 -- Acquisition Highlights: Newly-constructed, 310-room, fee-simple, full-service hotel located in the dynamic Midtown section of Manhattannear Times Square and Bryant Park Uniquely positioned as the only Embassy Suites hotel in Manhattan Exceptional amenities including three F&B outlets, 4,000 square feet of flexible meeting space, attractive outdoor sky-lawn, 47-space garage, and state-of-the-art fitness center Revenue per available room (RevPAR) of $254 for the 3 months ended December 31, 2018 Property is in excellent physical condition with limited capex needs In connection with this acquisition, Ashf...