Investor Trio Acquires InterContinental New York Times Square Hotel

Investor trio acquires InterContinental New York Times Square hotel

Gencom, Argent Ventures and Highgate purchased the luxury property from Tishman and MetLife for a reported $230 million, as the market maintains “long-term strength and global appeal.”

607-Key Intercontinental New York Times Square Trades for $230M

A partnership between Gencom, Argent Ventures and Highgate has completed the acquisition of The InterContinental New York Times Square, a 607-key luxury hotel in Midtown Manhattan, from a joint venture of Tishman Speyer and Met Life Investment Management. Although the partnership did not disclose the purchase price, the New York Business Journal reported it as $230 million. The 34-story property will transition from IHG management to an IHG fran…

Investor Trio Acquires InterContinental New York Times Square

MIAMI, Florida—A partnership between Gencom, Argent Ventures, and Highgate announced the acquisition of the InterContinental New York Times Square, a 607-key luxury hotel situated in Midtown Manhattan. The property will transition from IHG management to an IHG franchise, with Highgate assuming management. The hotel will also undergo an extensive renovation of guestrooms, public spaces, and dining venues. “As Gencom’s second hotel acquisition in …

Partnership Acquires 607-Room InterContinental New York Times Square Hotel

NEW YORK CITY — A partnership between two hospitality owner-operators, Gencom and Highgate, as well as New York City-based investment firm Argent Ventures, has acquired the 607-room InterContinental New York Times Square hotel in Midtown Manhattan. According to Hospitality Investor and The New York Business Journal, the sales price was $230 million. The 34-story hotel offers approximately 20,000 square feet of meeting and event space, multiple o…