Jumeirah 'Committed' to US Expansion

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In spite of the upcoming sale of its only New York hotel, Essex House, Jumeirah recently told Hotelier Middle East it “remains fully committed to the US market.”

Jumeirah parent company, Dubai Investment Group (DIG), bought the Essex House in 2005 for $423.9 million, according to real estate research and information company Real Capital Analytics. The 509-room Art Deco hotel at 160 Central Park South was sold to Strategic Hotels & Resorts for around $375 million.

Jumeirah Group vice president of corporate communications Piers Schreiber acknowledged that Jumeirah does not have any upcoming properties in the US, but the group would continue to focus on America as a source market.

Essex House Hotel will be rebranded as the first JW Marriott in Manhattan after the transfer is complete on September 7.


 

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