The hotel has now provided notice to employees, government officials, and unions, that they expect to cease operations around August 13, 2020. 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. The is the brand’s second EDITION location in New York City and we’ve confirmed that the original New York EDITION near Madison Square Park will remain … The Times Square EDITION introduces the next generation of modern luxury. I Really like Hampton Inn and Embassy Suites for both business and leisure travel in the US. It’s like forcing section 8 into your property regardless your own will. And they can’t offset development cost due to lower rents in a highly expansive city. 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. This site is for entertainment purposes only. In NYC, if you convert a hotel into condos, you will need to reserve a portion of units to low income people with very low rents. But they could also do a 1-2 year redesign of spaces and enlarge rooms to make apartments or condos, even offices. Edition Times Square is closing permanently in NYC due to coronavirus. 58 reviews of The Times Square EDITION "A new entrant into the Time Square market but this is a hotel like no other. The hotel offers four distinct dining experiences split over four floors with indoor and outdoor spaces and multiple dining options under one roof. COVID update: The Times Square EDITION has updated their hours and services. Reminder: OMAAT comments are changing soon. Evelyn hotel. 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. Breeze Airways Wants To Pay Pilots How Much?! Would love to see every Marriott property that doesn’t participate in Bonv*y fully exit the company, @UA-NYC Completely agree. There is a new Ritz opening in NOMAD next year Lucky!! Here, urban energy fuels an enchanting escape as sweeping views of the midtown skyline transport you to an oasis above the bustle. Evelyn hotel Belnord hotel Franklin Hotel also closed down. The Time Square Edition to Permanently Close Just a year after its much-anticipated opening, The Times Square Edition announced it will close permanently on or around August 13 this year. Also, Creditian, you are an absolute wanker. The hotel, located at 47th and 7th Avenue, was known for its John Fraser-helmed restuarants, including The Terrace and Outdoor Gardens and fine-dining 701West, which was awarded 3 stars by The New York Times, one of few restaurants in the city that touted this accolade. Shame…I was involved in the opening of it, and it was a very nice place, and the staff are really great. Follow us on Twitter, Facebook and Instagram. That 80,000-square-foot addition at the 30-year-old facility included the installation of a new printer and presses. 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. 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 Times Square EDITION introduces the next generation of modern luxury. The EDITION is part of a mixed-use building that was once appraised at $2.4 billion. Join our LinkedIn group and hear the latest news, advice and get exclusive updates In February, doors will officially … The Times Square Alliance, which promotes local businesses, has organized the event since 2007 near where the ball drops on New Year’s Eve in the closing moments of Dec. 31. Save my name, email, and website in this browser for the next time I comment. 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. The city currently is scheduled to remain on ‘pause’ until May 25. Going to be a beautiful hotel. (I’m sure there are exceptions, being NYC and all… but those are the experiences with buildings I am familiar with). Which Credit Card Should You Use At Hotels? And the drug dealers are part of the social fabric, doing business with organized crime that support the local real estate developers. I didn't stay here but had drinks and dinner at the restaurant on 9th floor. 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. 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 guess that extra money from “destination amenity fee” wasn’t enough to save them. So I suppose getting free breakfast there as a top tier elite in the future is now a moot point? 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. A change of ownership will take place and it will reopen as a different brand. In STR’s latest report, for the week of May 31 through June 6, the occupancy level was 47.1 percent. Originally constructed in 1909 as Metropolitan Life Insurance Company’s headquarters, this clocktower, near Madison Square Park, has been ingeniously reinvented to offer luxury boutique accommodation, a tranquil hotel spa, chic new event … Register here to save your space. Maefield Development has worked out a deal with lenders and Marriott International that will allow the Times Square Edition hotel to reopen in the fall, following earlier reports of permanent closure. According to the Kentucky Cabinet for Economic Development, the Atlanta-based company has spent more than $200 million upgrading its two Bluegrass State facilities in the last eight years. However, according to The Wall Street Journal, about 25,000 hotel rooms may never reopen. They go through insanely rigorous background checks and interviews to live in those buildings. Here’s CDC’s Answer. For example, Marriott's shiny new Edition Times Square, which opened with much fanfare last year announced in May that it would close permanently. 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. I guess that extra money from “destination amenity fee” wasn’t enough to save them. while im sure it can be redeveloped into condo’s/apartments, who in their right mind would want to live in times square! 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. 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 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. This can’t be an actual thought that an intelligence person with a brain would have, because it’s just so laughable. The Times Square Edition had been temporarily closed since late March when New York governor Andrew Cuomo placed the entire state on "pause" and ordered all non-essential businesses to shut. 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…. In the meantime, if you’re traveling to NYC, be sure to know all the safety precautions implemented in the city. It also created 70 new jobs. Here’s How I Cured My Wanderlust At Home During…, These Are The 29 States Where Covid-19 Cases Are Spiking – Do Not Travel, These are the most stressed countries in the world (United States is in the top 10), Starting Today, Masks Are Mandatory On All Domestic Flights And Airports, This Luxury Resort Is Offering A Free 14-Night Stay If You Test Positive For Covid-19. Most property owners don’t want to get involved into drug dealers or illegal immigrants. Will hotels make a strong comeback within the next year? The Times Square Edition was the most recent outpost of the Edition brand, joining other properties in London, Miami and Hawaii. That’s especially true for hotels that were already having financial problems coming into this pandemic. EDITION Times Square Closes On August 13, 2020. Please check your email to confirm your subscription. The food, drinks, ambiance was awesome and full of class. Unfortunately for this project, there were already major issues before the pandemic changed the travel landscape in the US. Friday’s in prime locations, one near Rockefeller Center and another in Times Square, have remained closed while its restaurants … There is an outdoor terrace with heated floors which … The occupancy level in New York hotels was 72.1 percent during the first week of March, New York Business Journal reports based on numbers provided by hotel research firm STR. 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. Join our LinkedIn group and hear the latest news, advice and get exclusive updates 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. There’s another EDITION property in New York that will continue to operate. This is who is…, Why San Pedro De Atacama Should Be Your Next Bucketlist Trip…, 6 Tips To Plan A Bucket List Trip (That You’ll Actually…, 5 Tips To Look Better In Your Vacation Photos — From…. Even Aman is opening there this year. New York City hotel occupancy has fallen below 15%, and obviously that can only be sustained for so long without support from lenders. Earn 85,000 Membership Reward® points | Terms Apply. Flight Attendants In China Told To Wear Diapers, Alaska Mileage Plan Changes How Status Is Earned, Cathay Pacific’s A321neo Business Class Revealed, Thai Airways Selling Boeing 747, Airbus A380 Fleet, Best Airline Credit Cards for Miles & Points, There’s another EDITION property in New York, NFL Player Sues United Airlines Over Sexual Harassment, Emirates Adds Bathroom Attendants To All Flights, Hyatt Offering Free COVID-19 Testing At Resorts In Latin America, Hotels In Mexico Add Easy & Cheap Coronavirus Testing, Ritz-Carlton Coming To Zermatt, Switzerland, Mango House Seychelles: New Hilton LXR Hotel. NYC is going to have a glut of rooms for a few years now, and on the luxury front it is overwhelmed with competition. Stay connected via social media, or subscribe to our free email newsletter for tips on upgrading your travel and maximizing your miles! If you click on the link and purchase the item, I will receive an affiliate commission. It features 452 guest rooms, a fitness center, performance venue, and six unique dining experiences developed by Michelin-starred Chef John Fraser. They just do damage to the brands, @Crediatian: Why don’t you add “And some of them might be nice people”. Unfortunately, theres not much use for that property as your going to see and exodus out of NYC. Editorial Disclosure: The editorial content on this page is not provided by any entity mentioned herein. And we need those illegal immigrants; they work in construction so we can have those buildings. 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. Notify me of follow-up comments by email. Outside of banner ads published through the Boarding Area network, this compensation does not impact how and where products appear on this site. Your email address will not be published. In December 2019 a group of lenders already worked towards foreclosing on the project, before the situation got even worse. Just as some airlines will go out of business as a result of the current pandemic, some hotels will go out of business as well. New York (CNN Business) McDonald's has closed its iconic restaurant on 42nd Street in New York City's Times Square. It is probably successful based on exquisite timing , it was torn down to create a Regis with Condos. The five-star Times Square Edition is NYC’s first hotel closing permanently due to coronavirus. The city is gonna be under a major budget shortfall and the tax revenues aren’t gonna be there. Please do! Nearly half of NYC hotels are empty, which is quite dramatic for a city with over 700 hotels that run full occupancy over the summer months. hilton times square closing. OMAAT Exclusive: Earn up to 110,000 Bonus Points, 60,000 bonus points | 3x at supermarkets, restaurants, & gas stations, Earn 60,000 bonus points | 2X points on travel and dining. The 452-room Times Square Edition, a piece of Maefield's 20 Times Square property valued at $2.4B, announced last month it is closing its doors permanently only a year after opening up. And yes you will see more many more. 9 airline predictions based on aftermath of 9/11 and Great Recession (2008), 7 positive predictions for travel after coronavirus pandemic. @tef0306 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. 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. I would imagine a new owner and luxury brand taking it over as a hotel. Let us know in the comments below. While I hate seeing good people lose their jobs, it serves these management firms and their decision makers. 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. Two T.G.I. Several factors went into this decision including the COVID-19 pandemic, forcing the hotel to close. He lives in New York City. Travelbinger is now featured on Apple News — here’s how I…, Miss Travel? Only time will tell. That’s why NYC has tons of century aged houses unable to get redeveloped. 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 The hotels that close will eventually come back because what else can you do with a 452 room hotel…? @tef0306. @Creditian you are right, to a point… Yes they have a required portion for low income households. He travels about 400,000 miles a year, primarily using miles and points to enhance his first class experiences. 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. He chronicles his adventures, along with industry news, here at One Mile at a Time. As the Waldorf Astoria in NY has shown, you convert to (mostly) apartments. @Creditian Most folks in section 8 housing work hard doing an actual job or are looking for work right now. Many New York City hotels begin to open as coronavirus numbers are at an all-time low, but it’s a different story for one stand-out hotel.

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