New Yorker Hotel to Get $65 M. Renovation

In an effort to keep up with the hotel development explosion in the city, The New Yorker Hotel announced today that it will undergo a $65 million renovation.

Located at 481 Eighth Avenue, The New Yorker was the largest hotel in the city when it opened in 1931. The expected renovations include a complete overhaul of furniture, carpets, wallpaper and fixtures as well as a serious clean-up job on the front of the building, according to a press release. Oh, and the historic hotel will step into the 21^st century by improving Wi-Fi service and television programming.

There is one other big reason for the renovations: The expansion of the Javits Center. The massive convention center/event space, which sits just three blocks west of the hotel, is expected to double in size by 2010. The New Yorker will already be all cleaned up by then as the revamping is expected to be finished by 2008.

The full release about the renovations is below.

NEW YORKER HOTEL EMBARKS ON $65 MILLION RENOVATION,

REFURBISHMENT TO BE COMPLETED AUGUST 2008

Hotel to Re-Emerge on the Scene Revitalized with Art Deco and Modern Edge Style;

Complete Overhaul of Furnishings, Remodeled Lobby, New Restaurants Among Highlights

NEW YORK, NY (Aug. 13, 2007) - Once the largest hotel in New York, with more than 2,500 rooms when it first opened in 1930, the New Yorker Hotel has launched an aggressive program to revitalize what is still one of the biggest art deco buildings in the heart of midtown New York City. The owners, recognizing the value of the hotel's glorious past history, have embarked on an ambitious $65 million renovation and remodeling project to both restore its art deco reputation and add the modern edge and style that today's guests demand.

The scope of the project, to be completed by August 2008, includes the following:

* Installation of a new heating and air conditioning system for the entire hotel (a four-pipe HVAC system, which will allow guests to control heat and cool air all year long - not an oft-found amenity in many hotels)

* Total overhaul of furniture, carpets, wallpaper and fixtures in both the guest rooms and the hallways on the guest floors

* Complete redesign of the lobby to recapture the grandeur and feel of when the New Yorker opened in 1930

* Facelift of the entire front of the hotel on Eighth Avenue - replacing signage, re-facing the stonework, and changing the marquee

* Guest services enhancements including improved free Wi-Fi service and better television programming

* Upgrade and refurbishment of the hotel's restaurants (La Vigna Ristorante & Bar and the 24-hour Tick Tock Diner)

"The time is right for us to embark on this major renovation project to revitalize our fantastic property," said Thomas McCaffrey, director of sales and marketing for the New Yorker.

"Our goal is to keep pace with the tremendous development taking place on the West Side with new hotel construction and the expansion of the Jacob Javits Convention Center. We're anchored in a superb location, so we're renewing a once-tired product, infusing it with style and new amenities to unleash its character and make it a hotel in demand," he added.

The design concept is the exotic and glamorous New York/Hollywood art deco style of the 1930's, as a nod to the hotel's past, but with a distinctive modern edge. This project marks the property's first renovation since 2000.

NYC-based Stonehill & Taylor (www.stonehilltaylor.com) has been tapped to conduct the architectural and interior design. Established in 1963, Stonehill & Taylor has broad hospitality experience encompassing five-star, transient and extended-stay properties with an impressive client roster including Millennium Hotels & Resorts, Affinia Hotels, Hilton Hotels, Fairmont Hotels & Resorts, Sheraton Hotels and many other properties, restaurants, industrial and commercial buildings, showrooms, education and healthcare complexes.

"The New Yorker Hotel will open a new chapter in its life once the renovation and refurbishment is complete in August 2008," McCaffrey said.