Management had reportedly suspended operations at the hotel in … Travel in the Time of COVID: The news, resources, & information you need. New York (CNN Business) McDonald's has closed its iconic restaurant on 42nd Street in New York City's Times Square. 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. I have no idea how many would be considered “drug dealers and illegal immigrants,” but I would imagine that is more stereotype than reality. 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 452-room Times Square Edition at 701 Seventh Ave., a piece of Maefield's 20 Times Square property once valued at $2.4B, officially opened last year. (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. McDonald's Times Square, New York City You might think that if any company can afford rent in Times Square, it's McDonald's. Even Aman is opening there this year. MIDTOWN MANHATTAN, NY — In a high-profile pandemic casualty, the Hilton Times Square hotel revealed this week that it will close permanently in October amid a … The hotel has now provided notice to employees, government officials, and unions, that they expect to … NYC is going to have a glut of rooms for a few years now, and on the luxury front it is overwhelmed with competition. 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 others note i think reopening as another brand once the NY market bounces back in 2021/2022 is the most probable outcome, I stayed there in Summer 2019 and had mixed feelings about it – the public spaces are beautiful but the rooms are pretty basic, aside from the shower and bathroom amenities, which were higher end. 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. Join our LinkedIn group and hear the latest news, advice and get exclusive updates The 42nd street hotel in the heart of Times Square has 478 rooms across 44 stories. It's Free! 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. Join our LinkedIn group and hear the latest news, advice and get exclusive updates The city currently is scheduled to remain on ‘pause’ until May 25. The hotel is part of a mixed-use property once appraised at $2.4 billion, according to a 2018 report from Moody’s Investors Service. As COVID-19 cases spike, Europe is once again taking serious measures to curb the virus' spread. 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. The Times Square Edition was the most recent outpost of the Edition brand, joining other properties in London, Miami and Hawaii. Due to the coronavirus pandemic, crowds in Times Square will not. (I’m sure there are exceptions, being NYC and all… but those are the experiences with buildings I am familiar with). Unfortunately for this project, there were already major issues before the pandemic changed the travel landscape in the US. Well, that’s exactly what’s happening to one popular Marriott affiliated property in New York City this summer. And the drug dealers are part of the social fabric, doing business with organized crime that support the local real estate developers. Published Fri, Sep 4 2020 1:26 PM EDT. Eventually, buyers will emerge. Your email address will not be published. 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. 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! The lender of the mixed-used property of which the 452-key hotel is part of begun foreclosure procedures in December. The 44-story Hilton Times Square in the heart of Manhattan is closing in October, according to a notice filed with the State of New York.. 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. 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. Sue Hatch | Sep 04, 2020 News of the hotel industry’s Covid-related challenges has been rolling in almost as long as the pandemic itself. 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. I sense at least a 10% total job lost across the board when this is all over. In the case of the Times Square Edition, the pandemic exacerbated existing problems. “drug dealers and illegal immigrants” are not (always) filling those. 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. This week's announcement of the permanent closure of the iconic 44-story Hilton Times Square hotel in … The Times Square Edition, a hotel that made headlines when it opened in Manhattan last year, will close permanently this summer. You can access EDITION Times Square’s website here. For 116 years, Times Square has been the center of worldwide attention on New Year’s Eve, ever since the owners of One Times Square began in 1904 … Photo: Lev Radin/Zuma Press By Peter Grant. In the case of the Times Square Edition, the pandemic exacerbated existing problems. The Hilton Times Square is also at risk of closing. They go through insanely rigorous background checks and interviews to live in those buildings. In late May, The Times Square Edition, just a year after opening, announced it would be closing due to lost business from lockdowns and travel restrictions. Limited Time Offer: Earn 100,000 Marriott Bonvoy points | Terms Apply. 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. The property is owned by Maefield Development, and Marriott allegedly warned the owners in March that a cash shortage would cause the developer to default on their contract. © 2018 Times Square Hong Kong All Rights Reserved 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. You can access EDITION Times Square’s website here. #h, Beautiful day up in the clouds. The hotel offers four distinct dining experiences split over four floors with indoor and outdoor spaces and multiple dining options under one roof. I have stayed at EDITION Barcelona twice and Abu Dhabi once, and I have enjoyed both. Join Date: Apr 2018. The Times Square EDITION will be ceasing operations effective August 13, 2020 and will be permanently closing. Pretty nice Junior Suite! If you enjoyed this article, get our blog updates for free! 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. The Times Square Edition was the most recent outpost of the Edition brand, joining other properties in London, Miami and Hawaii. EDITION Bangkok decided to change its flag to Orient Express before even opening (it still hasn’t under the Accor’s OE). Join Date: Aug 2002. New York (CNN Business) McDonald's has closed its iconic restaurant on 42nd Street in New York City's Times Square. For 116 years, Times Square has been the center of worldwide attention on New Year’s Eve, ever since the owners of One Times Square began in 1904 … As COVID-19 cases spike, Europe is once again taking serious measures to curb the virus’ spread. 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. Several factors went into this decision including the … The hotel opened in March 2019 into a market glutted with new … 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). 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. Several factors went into this decision including the … There is a new Ritz opening in NOMAD next year Lucky!! The 44-story Hilton Times Square in the heart of Manhattan is closing in October, according to a notice filed with the State of New York.. The hotel has now provided notice to employees, government officials, and unions, that they expect to cease operations around August 13, 2020. So I suppose getting free breakfast there as a top tier elite in the future is now a moot point? Jun 15, 2020 11:27am Omni Berkshire Place, located near Rockefeller Center in Midtown Manhattan, will permanently close as a result of the COVID-19 (coronavirus) pandemic, Bloomberg reports. Bloomberg reported that the hotel, operated by Marriott, is shuttering Aug. 13, and Marriott notified the property’s owner Maefield Development in March as part of a foreclosure proceeding. The 452-room hotel, part of The Edition brand created by hotelier Ian Schrager and Marriott, will permanently close by August 13, according to … Notify me of follow-up comments by email. A FlyerTalk Posting Legend. Hilton Times Square’s permanent closing and a foreclosure suit against Palmer House Hilton are the most recent evidence of the hotel industry’s pandemic pain. The five-star Times Square Edition is NYC’s first hotel closing permanently due to coronavirus. I can understand that they are not as locally differentiated as a St. Regis or Ritz Carlton, but doing just a couple from each brand would provide a good representation of the hotels that most of us stay in. Posts: 23 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. Lovely amenities! Shame…I was involved in the opening of it, and it was a very nice place, and the staff are really great. One Mile at a Time is owned by PointsPros, Inc. The Times Square Edition had been closed since late March when New York was placed in lockdown and all non-essential businesses were ordered to shut. 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. i say this spending my time living in both London and NYC and keeping a residence on the upper east side. The location sucked (although I say that as a local, not a tourist inexplicably drawn to times square), but that was kinda the point of putting it there…shame it didn’t pan out. Would love to see every Marriott property that doesn’t participate in Bonv*y fully exit the company, @UA-NYC Completely agree. Please view our advertising policy page for additional details about our partners. But they could also do a 1-2 year redesign of spaces and enlarge rooms to make apartments or condos, even offices. 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. 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. A FlyerTalk Posting Legend. Per The Real Deal, The W Hotel in downtown Manhattan is the latest to close its doors for good. 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. 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. Download App. Advertiser Disclosure: Some links to credit cards and other products on this website will earn an affiliate commission. Was gonna just hop in here and bash Creditian like everyone else, but then I realized he must be a troll, right? In late May, The Times Square Edition, just a year after opening, announced it would be closing due to lost business from lockdowns and travel restrictions. But this summer, the 42nd Street McDonald's closed . Earn 60,000 bonus points | 2X points on travel and dining. The closure of the Times Square Edition Hotel brought an end to his restaurants there, including 701West and Paradise Club. But … @Creditian you are right, to a point… Yes they have a required portion for low income households. Sadly, those making bad decisions usually have moved on and are not there at the downfall. While I hate seeing good people lose their jobs, it serves these management firms and their decision makers. I Really like Hampton Inn and Embassy Suites for both business and leisure travel in the US. Per The Real Deal, But … Save my name, email, and website in this browser for the next time I comment. They just do damage to the brands, @Crediatian: Why don’t you add “And some of them might be nice people”. The Times Square EDITION - New York City (Closing Aug. 2020) Reply Subscribe . I would imagine a new owner and luxury brand taking it over as a hotel. @tef0306 I also find that if they don’t show a photograph of the bathroom, you can brace yourself for at best a mediocre bathroom and at worst, a terrible one. The Times Square EDITION - New York City (Closing Aug. 2020) Reply Subscribe . New York’s PlayStation Theater, a 2,100-capacity venue located in Times Square and operated by Bowery Presents, will close at the end of 2019, a source close to the situation tells Variety… There have been talks that the Edition will be getting an new owner, so there’s a chance that property may be saved. ... Hilton Times Square is closing as tourism dries up. Anderson Cooper and Andy Cohen return for CNN's New Year's Eve broadcast. @tef0306. #accor #accorlivelimitless #sof, Marriott Bonvoy Rate & Bonus Points And Miles Promotions, Singapore To Allow Transit Passengers From June 2, 2020, Marriott Thailand Gift Certificates With 50% Bonus Available Until June 15, 2020, Marriott Bonvoy 25% Off Americas Escapes Through January 24, 2021, REMINDER: Marriott Bonvoy Annual Choice Benefit Options 2020 – What To Choose & When, LAST CALL: Marriott Bonvoy Buy & Gift Points With 50% – 60% Bonus Until December 22, 2020. 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. , All they had to do was raise the destination fee to 300 dollars a day then add the Covid 19 $100 dollars a day new surcharge and deep cleaning & disinfecting daily fee and they would have been fine. 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 Other permanent hotel closures in the city include the Maxwell New York, Omni Berkshire Place, Edition Times Square, and the New York Marriott East Side. Earn 75,000 Membership Rewards® points | Terms Apply. And we need those illegal immigrants; they work in construction so we can have those buildings. The property opened last year. The lender of the mixed-used property of which the 452-key hotel is part of begun foreclosure procedures in December. Though, I have never seen so much cleaning at airports tha. Times Square Edition was a welcome addition to the luxury hotel scene in New York City, and it’s closure feels too soon for a hotel that’s only been on since 2019 (one year). 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. Going to be a beautiful hotel. And they can’t offset development cost due to lower rents in a highly expansive city. Also, Creditian, you are an absolute wanker. The Times Square EDITION has partnered with Michelin-starred Chef John Fraser to helm all of the food and beverage outlets at the area’s first luxury hotel. Please check your email to confirm your subscription. For example, there’s also talk about how the value of the Hilton Times Square has been written down to less than the $77 million mortgage on the property, which may cause the owners to simply default. About BenBen Schlappig (aka Lucky) is a travel consultant, blogger, and avid points collector. The hotels that close will eventually come back because what else can you do with a 452 room hotel…? Note: Please see my Advertiser Disclosure. Stay connected via social media, or subscribe to our free email newsletter for tips on upgrading your travel and maximizing your miles! He chronicles his adventures, along with industry news, here at One Mile at a Time. 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. Times Square Edition hotel is closing in August, after Marriott warned owner Maefield Development that plummeting cash flows due to the pandemic could put it … The Times Square … Please view our advertising policy page for additional details about our partners. Some may close while others may continue under their current brands and operations. Or there’s the example of the St Pancras in London, which converted from hyper-luxury hotel to an office block … and then a century later back again to a hotel + apartments. I tend to find that the newer ones regardless of brand are good but man, if you get stuck with an old location that hasn’t been remodeled in ages…. The 452-room Times Square Edition was facing a foreclosure action by creditors when the pandemic hit. Nix, which was co-owned by … It’s like forcing section 8 into your property regardless your own will. There will be several. @Sam – As someone who stays in the Hampton Inn/Embassy Suites class of hotels while travelling for work, there’s so much variety from location to location that I don’t know if covering a few of them will give a reasonable idea of what they’re like. That’s especially true for hotels that were already having financial problems coming into this pandemic. Register here to save your space. 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. I guess that extra money from “destination amenity fee” wasn’t enough to save them. Outside of banner ads published through the Boarding Area network, this compensation does not impact how and where products appear on this site. The Times Square EDITION has partnered with Michelin-starred Chef John Fraser to helm all of the food and beverage outlets at the area’s first luxury hotel. As reported by Bloomberg, the 452-room EDITION Times Square, which only opened in February 2019, will be closing permanently in August 2020. A spokesperson from Marriott International confirmed that … Breeze Airways Wants To Pay Pilots How Much?! There have been talks that the Edition will be getting an new owner, so there’s a chance that property may be saved. There’s another EDITION property in New York that will continue to operate. Reminder: OMAAT comments are changing soon. READ MORE: Marriott Bonvoy Rate & Bonus Points And Miles Promotions. Already they are a high tax state and with biz moving to more virtual and when they do rehire at lower wages you can see the benefit to live in NYC is not very economical thus converting to condos or luxury hotel or even office space isn’t really gonna work unless it’s much more affordable housing which is what their gonna have to do if they intend to keep people in NYC. Istanbul property was soon after its opening reflagged under Hyatt’s brand. Marriott came up with this EDITION-concept to have a lifestyle brand to compete with Starwood’s hugely successful W. It is essentially a W for grown-ups without unnecessary bling. Chase Targeted Spending Bonuses: Are You Eligible? The hotel offers four distinct dining experiences split over four floors with indoor and outdoor spaces and … The owner of this site is not an investment advisor, financial planner, nor legal or tax professional and articles here are of an opinion and general nature and should not be relied upon for individual circumstances. As reported by Bloomberg, the 452-room EDITION Times Square, which only opened in February 2019, will be closing permanently in August 2020. After initially shuttering its movie theaters in late February and then reopening in June, Ita… Bed Bath & Beyonds are behemoths. Some occupy more than 80,000 square feet and display around 300,000 items from floor to ceiling. Just a year after its much-anticipated opening, The Times Square Editionannounced it will close permanently on or around August 13 this year. A fixture of the Manhattan skyline, the hotel boasts elegant architecture and is minutes away from Times Square and Grand Central Terminal. © 2018 Times Square Hong Kong All Rights Reserved 20 Times Square, aka 701 Seventh Avenue, is almost complete.The tower already has one of the largest LED screens in Times Square, spanning a whopping 18,000 square feet. The Times Square EDITION - New York City (Closing Aug. 2020) Reply Subscribe . Staycationing tonight. 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. “Welcome to Times Square, or as we like to call it, the heartbeat of New York City. This is especially true in major cities, as it’s likely that business travel won’t recover fully in the coming years, and it’s also likely that tourism will be focused on less populated areas. Editorial Disclosure: The editorial content on this page is not provided by any entity mentioned herein. Bloomberg reported that the hotel, operated by Marriott, is shuttering Aug. 13, and Marriott notified the property’s owner Maefield Development in March as part of a foreclosure proceeding. And yes you will see more many more. Perfect stop for som, All lounge benefits in Europe vanished? @Creditian Most folks in section 8 housing work hard doing an actual job or are looking for work right now. He travels about 400,000 miles a year, primarily using miles and points to enhance his first class experiences. 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. Unfortunately, theres not much use for that property as your going to see and exodus out of NYC. The Microsoft Times Square pop-up store has closed up shop, ahead of the February 9 launch of the company's Surface Pro PC/tablet hybrid. 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The 452-room Times Square Edition at 701 Seventh Ave., a piece of Maefield's 20 Times Square property once valued at $2.4B, officially opened last year. It is probably successful based on exquisite timing , it was torn down to create a Regis with Condos. Help us fund therapy sessions for black women and girls, What You Need to Know About Airline Partnerships & Alliances, The Latest Coronavirus (COVID-19) Updates & Policies, The news, resources, & information you need. Gibraltar, a British Overseas Territory at the tip of the Iberian Peninsula, is, according to the El Pais, set to join Schengen on January... © 2011–2020 LoyaltyLobby.com - Site & Contents, The Old Markethall from 1888. Maybe that’s why I … That said, for Bonvoy loyalists, the W Times Square and Marriott Marquis are directly across the street, If you'd like to participate in the discussion, please adhere to our commenting guidelines. That’s why NYC has tons of century aged houses unable to get redeveloped. In any event, I do think it is probably unlikely that it gets converted to an apartment building, largely because of it’s location. Anderson Cooper and Andy Cohen return for CNN's New Year's Eve broadcast. 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. Cost due to lower rents in a highly expansive City points on travel and maximizing your miles rigorous background and! Successful based on exquisite timing, it was a very nice place, the... And miles Promotions for low income households by creditors when the pandemic hit lose their,! Was facing a foreclosure action by creditors when the pandemic hit get our blog updates for free and Dhabi. Of banner ads published through the Boarding Area network, this compensation does impact... 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