News Summary
Highgate and Gencom are in the final stages of acquiring the InterContinental New York Times Square for approximately $230 million. This deal signals a resurgence in the hotel investment sector, with the 607-room property set to celebrate its 15th anniversary in 2025 and engage in various cultural events, including U.S. Open Tennis Championships festivities. The hotel, recognized for its LEED certification, is dedicated to sustainability and community relations, further elevating its reputation as a premier destination in New York City.
New York City – Highgate and Gencom, prominent players in the hotel investment landscape, are finalizing a deal to purchase the InterContinental New York Times Square for an estimated $230 million. This acquisition comes at a time when the hotel industry’s transaction market is showing signs of recovery.
With 607 rooms, the InterContinental New York Times Square has been notable since its opening in 2010. The property is currently being sold by its owners, including Tishman Realty, and is being assisted in this transaction by Eastdil Secured.
In addition to its pivotal location situated at the crossing of Broadway, Hell’s Kitchen, and Hudson Yards, the InterContinental New York Times Square has previously undergone refinancing; it received a $190 million loan from Blackstone Mortgage Trust in 2018.
The hotel holds a significant position not just as a lodging establishment but also as a cultural venue. It commemorates its upcoming 15th anniversary in July 2025 with plans for interactive art sessions and a celebratory toast, as well as a special welcome amenity named “Cheers to 15,” featuring a French 75 cocktail along with snack options.
Sustainability is a priority for the InterContinental New York Times Square, as it was the largest hotel in New York City to achieve LEED certification upon its construction. The hotel continues to improve its relationship with the local community through various experiences and programming.
Additionally, the hotel is set to celebrate the U.S. Open Tennis Championships in 2025 with a variety of events and exhibitions highlighting tennis history, including a tribute to the iconic Billie Jean King. Guests can anticipate exclusive meet and greet opportunities with tennis stars, customized tennis-themed cocktails, and immersive tennis-related décor throughout the lobby area. A designated Fan Zone will further enhance the experience for tennis enthusiasts.
Moreover, the hotel encourages social media interaction during the U.S. Open festivities, inviting visitors to share their experiences using specific hashtags. This initiative aims to foster engagement and promote the hotel’s ties with the sport and local culture.
The InterContinental New York Times Square continually improves its offerings while taking steps toward sustainability and community engagement to solidify its reputation as a leading hotel destination in New York City. The anticipated deal between Highgate and Gencom signals a renewed confidence in the hotel market, and the upcoming anniversary and U.S. Open celebrations position the hotel as a vibrant and compelling venue in the hospitality sector.
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Additional Resources
- Bloomberg: InterContinental Times Square Sale
- Wikipedia: New York City
- Upgraded Points: InterContinental New York Barclay Hotel Review
- Google Search: InterContinental New York Times Square
- Travel and Tour World: Experience the U.S. Open
- Encyclopedia Britannica: U.S. Open
- Stupid Dope: InterContinental New York Times Square 15 Years
- Google News: New York Times Square Hotel
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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.
