The hotel is officially closing Jan. 22 but is already locked up tight.
The Times Square Sheraton Hotel is the latest in a string of struggling NYC hotels to sell at a discount, as owner-operator MCR Hotels purchases the property.
The hotel likely sold more for its opportunity for redevelopment than its status as an active hotel.
New York City's hotels are almost full again. But the financial pressure after two years of losses could still mean more hotel sales at a discount, experts say.
London hotel occupancy remains depressed as sector struggles to recover from pandemic plus recession fears
The Guardsman and the Lincoln Plaza hotels in London are up for sale.
Much of the new demand is expected to come from infrastructure project workers.
Hotel occupancy in NYC hit 86% in July, a 10% jump compared to the year before.
A rundown of recent noteworthy commercial real estate transactions and happenings in the Baltimore metro area.
Room renters say hotels charged more for hotel rooms due to an agreement between chains to share sensitive information about prices, supply and future plans.
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