Juniper Capital Partners and IMH Financial Bolsters Hospitality Portfolios With First New York Acquisition, the Time Nyack Hotel

USA, Scottsdale , Arizona. April 03, 2019

An affiliate of Juniper Capital Partners and an affiliate of IMH Financial Corporationannounced today the acquisition of The Time Nyack hotel in New York's Hudson Valley. The upscale, lifestyle hotel with loft-style accommodations is the only of its kind in Rockland County.

Plans to enhance the entire hotel include a refreshed look at the property's culinary offerings and the debut of a new rooftop experience to showcase the amazing views of the Hudson River and newly reconstructed Governor Mario M. Cuomo Bridge. The 133-room Time Nyack, which first opened in May 2016, is both a dining destination for Westchester and Rockland County locals as well as an opportunity for travelers from outside the area to experience the region like never before.

"As a company, we are drawn to buildings that are deeply rooted in the local community with historical ties that we can revitalize with modern amenities to suit today's travelers," said Juniper Capital Real Estate Managing Partner Jay Wolf. "This first-of-its-kind lifestyle hotel in the Hudson Valley has yielded tremendous benefits for the village of Nyack, surrounding communities and the greater region. Upon acquisition, we will continue to deliver on local promises while inviting guests from around the country to experience greater New York. Juniper Capital Partners will leverage its existing partnership with IMH Financial Corporation who will be asset managing the property."

"There's significant gratification and pride in being part of the acquisition of the Time Nyack hotel," said IMH Financial Corporation Chairman and CEO Lawrence Bain. "While elevating our current portfolio and strengthening our existing relationship with Juniper Capital Partners, IMH will continue to offer an unprecedented level of luxury and excellence to the Hudson Valley."

Brand-new construction housed within the framework of a four-story, former factory, The Time Nyack is an inviting lodging option for modern travelers, leisure and business travelers. An open, industrial feel lends itself to the overall hotel vibe where bare brick walls frame the structure, complemented by exposed ducts and high ceilings along with contemporary design elements.

The property aims to provide individual experiences for guests with exceptional public spaces including an on-site steakhouse operated as BV Grill, an offshoot of the well-known Bobby Vans Steakhouse, an outdoor bar and pool deck and more than 3,000 square feet of event space.

Nyack is located in Rockland County, which is less than an hour drive from New York City and easily accessible by the newly reconstructed Governor Mario M. Cuomo Bridge. An urban stopover defined by its culture, history and nature, the city is known for its festivals, parades, shops, landmarks and trails.

Juniper Capital Partners boasts an exceptional portfolio of luxury hotels including the Hard Rock Hotel and Casino in Las Vegas, Nevada and The St. Regis Residences in Toronto, the first St. Regis property in Canada. Juniper also has a significant investment and ownership position in IMH Financial Corporation, which currently owns and manages the newly renovated luxury MacArthur Place Hotel & Spa in Sonoma, California, and previously owned and managed L'Auberge de Sedona in Sedona, Arizona.


About IMH Financial Corporation

About Juniper Capital Real Estate

Media Contact:

Mary Burkhardt
Publicist
J Public Relations
T: 212-924-3600
E: mburkhardt@jpublicrelations.com
W: http://www.jpublicrelations.com

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Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.