News Summary
MML Hospitality, based in Austin, has acquired the luxury Nine Orchard hotel in Manhattan’s Lower East Side for $92 million. This marks the company’s first property in New York City. Previously owned by DLJ Real Estate Capital Partners, the hotel has 113 rooms and features two restaurants. MML Hospitality plans to enhance food and beverage operations while maintaining the hotel’s unique offerings. This acquisition highlights a trend of ownership changes among trendy hotels in New York City and reflects MML’s strategic expansion into boutique accommodations.
New York City – MML Hospitality, a hospitality company based in Austin, Texas, has acquired the luxury Nine Orchard hotel located in Manhattan’s Lower East Side for $92 million. The transaction was recorded on August 20, 2023, marking the company’s first property in New York City.
The Nine Orchard hotel was previously owned by DLJ Real Estate Capital Partners, which purchased the historic site along with an adjacent building in 2012 for $41 million. Under DLJ’s ownership, the property underwent extensive renovations and was transformed into a luxury hotel, opening its doors to the public in 2022. The hotel occupies the Jarmulowsky Bank Building, a landmark designated by New York City in 2009 and originally constructed in 1912.
With 113 rooms available, the Nine Orchard hotel has gained popularity in the trendy Dimes Square neighborhood. Room rates range from $675 to $1,675 per night, excluding taxes and fees, making it a premium lodging option in the area. The hotel also features two restaurants: the Corner Bar and the Swan Room.
Earlier this year, there were rumors circulating about changes in the hotel’s dining establishments, including speculation about the renowned Chef April Bloomfield potentially revamping the food offerings. However, MML Hospitality has indicated plans to refocus the food and beverage operations, although significant changes are not expected to materialize for at least another year.
MML Hospitality was established in 2009 by chefs Tom Moorman and Larry McGuire. While the firm operates several restaurant venues, it currently owns only two hotels, including the recently acquired Nine Orchard. This acquisition represents a strategic expansion for the company, which also manages the 75-room Hotel Saint Vincent located in New Orleans.
This transaction is part of a larger trend regarding hotel ownership changes in New York City, particularly among trendy establishments. Notably, the Washington Square Hotel was sold for $23 million earlier this year, further indicating a shift in the city’s hospitality landscape.
The Nine Orchard hotel has quickly established itself as a desirable destination due to its unique design, luxurious amenities, and prime location. As MML Hospitality puts its plan into action, both the hotel industry and the local community will be watching closely to see how the property evolves under new ownership.
Through the Nine Orchard acquisition, MML Hospitality aims to enhance its portfolio and capitalize on the growing appeal of boutique hotels in urban settings, particularly in vibrant neighborhoods like the Lower East Side.
Deeper Dive: News & Info About This Topic
HERE Resources
New York City Faces $13 Billion Tax Revenue Loss
Wisconsin Dells Welcomes New Dellshire Resort
Discover The Mercer Hotel: A Boutique Retreat in SoHo
InterContinental Hotel Enhances U.S. Open Tennis Experience
Hotel Elysee Set for a Luxurious Transformation
Luxury Hotels in New York Elevate Experiences for U.S. Open Attendees
Discover Affordable Hotels in New York City
Exploring the Luxurious Hotels of Upstate New York
Iconic Hotels in New York Nominated for National Awards
Potential Exodos from NYC Amid Mayoral Race
Additional Resources
- The Lo-Down NYC
- Wikipedia: Nine Orchard
- Texas Monthly
- Google Search: Nine Orchard hotel
- Crain’s New York
- Google Scholar: hotel ownership changes New York City
- Eater NYC
- Encyclopedia Britannica: hotel trends New York
Author: STAFF HERE NEW YORK WRITER
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
