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New, renovated properties rejuvenate NYC inventory.

Publication: Business Travel News
Publication Date: 08-SEP-03 		Format: Online - approximately 1052 words
Delivery: Immediate Online Access

Article Excerpt
The opening this month of The Alex, a 203-room hotel on East 45th Street, and the reopening in July of the 147-room San Carlos on East 50th Street have brought renewed interest to the hotel inventory located along the stretch at New York City's East Side, immediately north of Grand Central Station. The neighborhood long has been one of Manhattan's deepest hotel markets. Catering to business travelers, hotels located there benefit from their proximity to numerous Fortune 500 headquarters on Park Avenue in the East 50s, as well as to the United Nations headquarters further east along the East River.

In addition to The Alex opening and San Carlos reopening, an established Midtown East business hotel, the 722-room Metropolitan on 51st Street and Lexington Avenue, in July was sold by Loews Hotels to a partnership headed by the Goldman Sachs investment banking firm. Under Loews, the property, had been managed under a variety of names for...

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