Want daily blog updates delivered straight to your inbox? The launch of this brand was an utter disaster after Honolulu EDITION’s owner came in at midnight, changed the locks, and threw Marriott management out. Bloomberg reported that the resort, operated by Marriott, is shuttering Aug. 13, and Marriott notified the property’s proprietor Maefield Improvement in March as a part of a foreclosures […] Studio 54 co-founder Ian Schrager says his Times Square Edition hotel was a major hit, even though it’s closing just a year after its ballyhooed opening. There have been talks that the Edition will be getting an new owner, so there’s a chance that property may be saved. Though, I have never seen so much cleaning at airports tha. A FlyerTalk Posting Legend. Nix, which was co-owned by … The 42nd street hotel in the heart of Times Square has 478 rooms across 44 stories. Studio 54 co-founder Ian Schrager says his Times Square Edition resort was a main hit, even though it’s closing simply a 12 months after its ballyhooed opening. The lender of the mixed-used property of which the 452-key hotel is part of begun foreclosure procedures in December. Programs: UALifetimePremierGold, Marriott LifetimeTitanium. The 452-room Times Square Edition was facing a foreclosure action by creditors when the pandemic hit. Programs: UALifetimePremierGold, Marriott LifetimeTitanium. Marriott gave notice in May that the Times Square Edition hotel, which went dark in March due to coronavirus, would be closing for good in the summer. And we need those illegal immigrants; they work in construction so we can have those buildings. Marriott | Marriott Bonvoy - The Times Square EDITION - New York City (Closing Aug. 2020) - Agreed that the regular NYC Edition is very nice, been twice, had a two bathroom Park Suite upgrade one of the times and also enjoyed the standard room the other time. The 478-room hotel, located at 234 West 42nd Street, has been closed since the pandemic-induced shutdowns began in March, and will close permanently by Oct. 14, according to a WARN Act Notice filed by the hotel’s owners, Sunstone Hotel Investors. Being in the construction industry for four decades in various forms there were simply too many properties built in the last ten years like the airlines too many seats/beds that could not be sustained in a down turn, which aside from the virus disruption was going to happen. Several factors went into this decision including the … Thread Tools Search this Thread Oct 14, 19, 4:33 pm #31 Dsm1012 . Outside of banner ads published through the Boarding Area network, this compensation does not impact how and where products appear on this site. (Bloomberg) -- The Times Square Edition, a Manhattan hotel that opened to great fanfare last year, is slated to close permanently in August as the coronavirus grinds tourism to a halt and the hotel’s owner faces off with lenders. The Times Square EDITION - New York City (Closing Aug. 2020) Reply Subscribe . Several factors went into this decision including the … Eventually, buyers will emerge. A fixture of the Manhattan skyline, the hotel boasts elegant architecture and is minutes away from Times Square and Grand Central Terminal. Here, urban energy fuels an enchanting escape as sweeping views of the midtown skyline transport you to an oasis above the bustle. “drug dealers and illegal immigrants” are not (always) filling those. Editorial Disclosure: The editorial content on this page is not provided by any entity mentioned herein. Going to be a beautiful hotel. Unfortunately for this project, there were already major issues before the pandemic changed the travel landscape in the US. There is a new Ritz opening in NOMAD next year Lucky!! Studio 54 co-founder Ian Schrager says his Times Square Edition hotel was a major hit, even though it’s closing just a year after its ballyhooed opening. Many stores are still closed, some permanently, while those that are open have very little foot traffic. Marriott Lays Off Hundreds of Workers at Times Square Hotel Company tells 850 employees to prepare for March 12 end date, as Covid-19 pummels New York’s hotel industry Here’s an excerpt from Bloomberg (access their piece here): Marriott warned owner Maefield Development in March that a cash shortfall due to the outbreak could put the developer in default on its contract with the lodging giant, new documents in an ongoing foreclosure proceeding show. This won’t be the last reflag or hotel that won’t open after its operations were suspended due to the Covid-19 pandemic. Staycationing tonight. Most property owners don’t want to get involved into drug dealers or illegal immigrants. I have no idea how many would be considered “drug dealers and illegal immigrants,” but I would imagine that is more stereotype than reality. Breeze Airways Wants To Pay Pilots How Much?! The lender of the mixed-used property of which the 452-key hotel is part of begun foreclosure procedures in December. It is interesting to see if this EDITION Times Square will reemerge under different brand on August 14, 2020, or if it will close its doors. As COVID-19 cases spike, Europe is once again taking serious measures to curb the virus’ spread. According to the Bloomberg report, Omni Hotels & Resorts , which is owned by billionaire Robert Rowling’s TRT Holdings, Inc., informed loyalty members of its plans to close the property on East 52nd Street. The closure of the Times Square Edition Hotel brought an end to his restaurants there, including 701West and Paradise Club. Original Poster . But this summer, the 42nd Street McDonald's closed . The EDITION is part of a mixed-use building that was once appraised at $2.4 billion. Well, that’s exactly what’s happening to one popular Marriott affiliated property in New York City this summer. The property opened last year. If you enjoyed this article, get our blog updates for free! Please view our advertising policy page for additional details about our partners. Photo: Lev Radin/Zuma Press However, I am sad to see it go – clearly a ton of money, planning, and effort went into the design and construction of the hotel and seems like a shame to close only 18 months after opening. This can’t be an actual thought that an intelligence person with a brain would have, because it’s just so laughable. And yes you will see more many more. As reported by Bloomberg, the 452-room EDITION Times Square, which only opened in February 2019, will be closing permanently in August 2020. The Times Square EDITION introduces the next generation of modern luxury. In the case of the Times Square Edition, the pandemic exacerbated existing problems. Some may close while others may continue under their current brands and operations. New York (CNN Business) McDonald's has closed its iconic restaurant on 42nd Street in New York City's Times Square. Please view our advertising policy page for additional details about our partners. Join Date: Apr 2018. I Really like Hampton Inn and Embassy Suites for both business and leisure travel in the US. US: The 452-room hotel located in New York’s Times Square is to permanently close on 13 August 2020 due to financial issues caused by the coronavirus crisis. EDITION Bangkok decided to change its flag to Orient Express before even opening (it still hasn’t under the Accor’s OE). A change of ownership will take place and it will reopen as a different brand. As far as the EDITION Times Square goes, it’s sad to see a hotel close after just 18 months, but the hotel already had financial problems before this started. The hotel opened in March 2019 into a market glutted with new … The 478-room hotel, located at 234 West 42nd Street, has been closed since the pandemic-induced shutdowns began in March, and will close permanently by Oct. 14, according to a WARN Act Notice filed by the hotel’s owners, Sunstone Hotel Investors. Management had reportedly suspended operations at the hotel in … New York (CNN Business) McDonald's has closed its iconic restaurant on 42nd Street in New York City's Times Square. Hilton Times Square is closing as tourism dries up. Was gonna just hop in here and bash Creditian like everyone else, but then I realized he must be a troll, right? In the case of the Times Square Edition, the pandemic exacerbated existing problems. I witnessed the St Regis in LA, a hotel I used to love in the early 2000’s, and was a relatively new building (nowhere near as new as this though), get torn down and replaced with condos. @tef0306 701West . While the EDITION Times Square was having issues before the current crisis started, expect that this will be far from the only property to close permanently. A fixture of the Manhattan skyline, the hotel boasts elegant architecture and is minutes away from Times Square and Grand Central Terminal. The 452-room hotel, part of The Edition brand created by hotelier Ian Schrager and Marriott, will permanently close by August 13, according to … McDonald's Times Square, New York City You might think that if any company can afford rent in Times Square, it's McDonald's. @Creditian Most folks in section 8 housing work hard doing an actual job or are looking for work right now. Closure of Hilton Times Square may be 'tip of the iceberg' of troubles facing New York hotels. Download App. COVID-19 has obviously had a terrible impact on the hotel industry, and there’s no doubt that a lot of hotels will be forced to close permanently because of this. While we do try to list all the best miles and points deals, the site does not include all card companies or credit card offers available in the marketplace. Note: Please see my Advertiser Disclosure. That’s especially true for hotels that were already having financial problems coming into this pandemic. One Mile at a Time is owned by PointsPros, Inc. While I hate seeing good people lose their jobs, it serves these management firms and their decision makers. Thread Tools Search this Thread Jul 14, 18, 3:19 pm #1 SkiAdcock. Bloomberg reported yesterday that Marriott has given notices to employees that it will cease operating EDITION Times Square, which opened last year, on August 13, 2020. Download App. (I’m sure there are exceptions, being NYC and all… but those are the experiences with buildings I am familiar with). The five-star Times Square Edition is NYC’s first hotel closing permanently due to coronavirus. NEW YORK - The Times Square Edition Hotel is closing just over a year after it opened. Abu Dhabi Starts Welcoming Tourists From December 24, 2020 (May Need... KLM & Netherlands Require All Passengers To Have Negative Covid-19... Middle Eastern Countries Are Imposing New Border Traffic Restrictions Amid Fears... Merry Christmas & Happy Holidays From The LoyaltyLobby Team! Studio 54 co-founder Ian Schrager says his Times Square Edition resort was a main hit, even though it’s closing simply a 12 months after its ballyhooed opening. ... Hilton Times Square is closing as tourism dries up. I know you focus on aspirational flight and hotel products, but it would be awesome given the economy if you could do some reviews of “normal people” hotels when you resume travel, such as that Hilton you mentioned. The Times Square EDITION will be ceasing operations effective August 13, 2020 and will be permanently closing. This week's announcement of the permanent closure of the iconic 44-story Hilton Times Square hotel in … If I were a New York real estate developer, I would worry a lot about my investments there, even if I had a day job with the federal government and changed my residence to Florida. The 452-room Times Square Edition was facing a foreclosure action by creditors when the pandemic hit. There will be several. I had dinner with friends at the London property, and it took three/four tries for the waiter to get our bill right (there were items belonging to some other party). Earn 60,000 bonus points | 2X points on travel and dining. The banks will then take over and decide what to do with the properties and with whom. The Times Square Edition was the most recent outpost of the Edition brand, joining other properties in London, Miami and Hawaii. New York City hotel occupancy has fallen below 15%, and obviously that can only be sustained for so long without support from lenders. New York's iconic Roosevelt Hotel has been in business for nearly 100 years, but is now closing its doors due to the impact of the coronavirus pandemic. The property opened last year. The Times Square Edition was the most recent outpost of the Edition brand, joining other properties in London, Miami and Hawaii. The Times Square Edition, a hotel that made headlines when it opened in Manhattan last year, will close permanently this summer. That’s why NYC has tons of century aged houses unable to get redeveloped. © 2018 Times Square Hong Kong All Rights Reserved I would imagine a new owner and luxury brand taking it over as a hotel. In December, a group of lenders led by Natixis SA sought to foreclose on the project, which includes the 452-room hotel, retail space and digital signage. Studio 54 co-founder Ian Schrager says his Times Square Edition hotel was a major hit, even though it’s closing just a year after its ballyhooed opening. Squawk on the Street. In February, doors will officially open to the 517-foot, 42-story, 452-key Marriott Edition hotel, wrapped in glass panels and topped with the logo on its western and southern facades. Read MORE: Marriott Bonvoy points | Terms Apply while others may times square edition closing under their current brands operations. Along with industry news, here at one Mile at a Time is owned by PointsPros, Inc 4:33... Hate seeing good people lose their jobs, it was a very nice place, and tax! Cooper and Andy Cohen return for CNN 's New year 's Eve broadcast Abu Dhabi once, and have been... 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