Second NYC Hotel for Kimpton
NEW YORK, NY, February 10, 2006. Kimpton Hotels has announced its most recent hotel in New York City, The Muse Hotel and District Restaurant, located in Manhattan's Times Square and theater district.
This property marks the second New York City hotel in the growing Kimpton portfolio of 40 hotels, including the 2004 addition of its 70 park avenue hotel, located in midtown near Grand Central Station. To elevate the 200-room Muse to Kimpton's signature brand style, services and amenities,the property will embark on a $5 million enhancement project.
Playing off the pulse of Times Square and the lights of Broadway, The Museprovides guests a place to "stay inspired" in New York City.
Favored bymany icons of fashion, music and entertainment, the AAA Four Diamond hotelis on the cutting edge of guest service, from arranging lessons with theRockettes and American Ballet Theatre to themed pajama parties and shoppingwith fashion models.
Honored as one of Travel Channel's "Great Hotels," The Muse blends comfortwith creativity, service with style and logic with luxury.
"New York has been a key target market for Kimpton, and The Muse's premiumofferings and ideal Times Square location provide a welcome alternative tothe larger conference hotels and trendy, yetnon-functional, boutique hotels in this area," said Mike Depatie, Kimpton's President.
"The combination of Kimpton's management expertise and thequality features of The Muse will undoubtedly increase consumer interest,while at the same time driving solid returns to our investors," added Depatie.
"Our strategy of taking over existing hotels in desirable locations, toreposition as a Kimpton property, is something the Kimpton Hotels &Restaurants will continue to pursue as opportunities arise," said TomLaTour, Kimpton's Chairman & CEO.
Kimpton Hotels was awarded management of The Muse Hotel and DistrictRestaurant by Cornerstone Real Estate Advisers LLC, an indirect, whollyowned subsidiary of the MassMutual Financial Group, which manages more than$5 billion on behalf of a number of major public and corporate pensionfunds, endowments, foundations and union funds, as well as MassMutual.
"Weare extremely familiar with Kimpton's dedicated management skill as itrelates to the company's other properties and we greatly look forward toworking together on The Muse," said Cornerstone CEO Dave Reilly.
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