Lower Manhattan is a hotbed of hotel activity.Lower Manhattan's remarkable resurgence--as evidenced by the now-single digit office vacancy rate, the influx of luxury retailers and the growing residential and tourist populations--has spurred a major wave of hotel development in the Financial District, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a recent survey conducted by the Alliance for Downtown New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North is currently home to nine hotels that range from small boutiques to luxury, full service accommodations. These hotels offer a total of 2,197 rooms and are operating at peak capacity, thanks to Lower Manhattan's surging economy and thriving tourism industry. Astute as·tute adj. Having or showing shrewdness and discernment, especially with respect to one's own concerns. See Synonyms at shrewd. [Latin ast hotel developers are now capitalizing on the great demand for hotel rooms in Lower Manhattan by acquiring and renovating existing properties and developing new hotels. There are approximately two dozen Downtown hotel projects under construction or on the drawing board, projects that will create thousands of new hotel rooms in Lower Manhattan. "The amount of investment pouring into Downtown's hospitality industry is further proof that Lower Manhattan is now New York City's most desirable and dynamic location," says Eric Deutsch, president of the Alliance for Downtown New York. "The significant unmet demand for facilities at every price point--from limited service to luxury and from chic boutique Boutique A small investment firm specializing in offering specific, but limited services to a select number of individuals. Notes: These investment firms are the alternatives to large financial supermarkets. They provide a highly personalized environment for investing. to hotels for large group meetings--provides developers with the perfect environment to build exciting new projects. I'm confident that these hotels will enjoy great success, spur additional development and help make Lower Manhattan an even greater place to conduct business and visit." One of the companies involved in several upcoming hotel projects in Lower Manhattan is Queens-based McSam Hotel Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the leading hotel developer in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . McSam is teaming up with several top hotel chains to build a variety of hotels that will add nearly 2,000 hotel rooms to Lower Manhattan. "Lower Manhattan's stature as a vital central business district, a neighborhood steeped in American history and world famous tourist attractions Noun 1. tourist attraction - a characteristic that attracts tourists attractive feature, magnet, attractor, attracter, attraction - a characteristic that provides pleasure and attracts; "flowers are an attractor for bees" and as an exciting place to live is unmatched," says Sam Chang, president of McSam Hotel Group LLC. "We believe that our hotel projects now being developed for Lower Manhattan will satisfy the current and future lodging demand for years to come." Notable activities in Lower Manhattan's hospitality industry during 2006 include: * The transformation of the 53-room Manhattan Seaport Suites at 129 Front Street into The Exchange Hotel. All of the hotel's rooms have been completely renovated and a redesign of the common areas created a new arrival area, restaurant and lounge * The re-opening of the 9-story, 65-room Hampton Inn Manhattan/ Seaport-Financial District on Pearl Street by Hersha Hospitality Management, a hotel management company of nationally franchised, midscale and upscale hotels * The purchase of the 138-room Holiday Inn Wall Street by LaSalle Hotel Properties, a leading real estate investment trust. The hotel is set to undergo an 18 month, $60 million renovation and will be repositioned as a luxury high-style independent hotel * The $300 million purchase of the 463-room Embassy Suites Hotel by Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. New projects under construction or in development include: * A hotel/condominium at 50 West Street * A 53-story building with two hotels at 217 Pearl Street with a total of 660 rooms, including a public plaza, covered public pedestrian circulation space, ballrooms, conference facilities, and rooftop bar * A 53-story hotel/condominium at 123 Washington Street The following streets in the United States are called Washington Street:
* A 26-story limited service hotel at 126 Water Street with ground floor restaurant * A 36-story hotel at 99 Washington St with restaurant and other retail * 39-story hotel at 100 Greenwich Street with meeting rooms, restaurant, spa and fitness center, and subway improvements * A 35-story limited service hotel at 50 Trinity Place, with retail and subway improvements * A 20-story Wyndham Garden hotel at 20 Maiden Lane at Nassau Street Nassau Street could refer to several different locations:
* A 20-story luxury full-service hotel at 8 Stone Street, featuring extensive conference space, restaurants, and other amenities i * A 39-story hotel at 33 Beekman Street. |
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