{"id":1004166870,"date":"2017-02-16T09:10:20","date_gmt":"2017-02-16T17:10:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004166870"},"modified":"2022-12-05T22:19:25","modified_gmt":"2022-12-06T06:19:25","slug":"hilton-unveils-new-doubletree-in-nycs-times-square","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hilton-unveils-new-doubletree-in-nycs-times-square\/","title":{"rendered":"Hilton Unveils New DoubleTree in NYC\u2019s Times Square"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Lobby<\/a>

Lobby Rendering<\/p><\/div>\n

New York<\/strong>\u2014Hilton has been in a New York state of mind recently, and the hotel company\u2019s affinity for the Big Apple continues with the debut of DoubleTree by Hilton Hotel New York Times Square West, a 612-key property in Midtown Manhattan.<\/p>\n

Located at 350 West 40th St., DoubleTree Times Square West ticks the all-important location box. In a prepared statement, Dianna Vaughan, senior vice president & global head, DoubleTree by Hilton, said it all: \u201cTimes Square is the heartbeat of New York City.\u201d<\/p>\n

The 37-story hotel, managed by Crescent Hotels and Resorts, features 1,000 square feet of meeting space, a ground-level restaurant, a rooftop lounge and a highly coveted amenity not often found at Manhattan lodging destinations: outdoor seating. But that\u2019s not all DoubleTree Times Square West has\u2014it also has serious competition.<\/p>\n

New York logged the seventh highest year-over-year increase in hotel supply from the fourth quarter of 2015 to the fourth quarter of 2016, according to a report by commercial real estate services firm CBRE. However, if any major metropolitan market can withstand an onslaught of new guestrooms, it\u2019s New York. \u201cNew York, again, a tough market today. But please keep in mind, all that supply is still getting absorbed,\u201d Thomas Baltimore Jr., CEO of Hilton spin-off Park Hotels & Resorts Inc., said during Hilton\u2019s investor day conference in December.<\/p>\n

Research backs up Baltimore\u2019s assertion. \u201cMost markets did not record demand growth sufficient to meet the increase in supply, and therefore experienced declining occupancy. A notable exception was New York, which saw occupancy increase even as supply grew 5 percent year-over-year,\u201d per the report. New York closed 2016 with the highest occupancy in the U.S. at 88.3 percent.<\/p>\n

Hilton\u2019s fondness for the New York market resulted in the introduction of two hotels in the city during the fourth quarter of 2016. The company opened the 173-room The Renwick Hotel New York City, Curio Collection by Hilton<\/a> and Hilton Brooklyn New York<\/a>, a 196-key property, late last year. Additionally, the 310-key Embassy Suites New York \u2013\u00a0Midtown Manhattan, the first Embassy Suites by Hilton brand in the city, topped out<\/a> in June.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 37-story hotel brings 612 guestrooms to Midtown Manhattan. <\/p>\n","protected":false},"author":969,"featured_media":1004166871,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21751,1600,21742,10],"tags":[32805],"class_list":["post-1004166870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-hotel","category-new-york","category-latest","category-northeast","tag-hilton"],"acf":[],"yoast_head":"\nHilton Unveils New DoubleTree in NYC\u2019s Times Square - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hilton-unveils-new-doubletree-in-nycs-times-square\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hilton Unveils New DoubleTree in NYC\u2019s Times Square\" \/>\n<meta property=\"og:description\" content=\"The 37-story hotel brings 612 guestrooms to Midtown Manhattan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hilton-unveils-new-doubletree-in-nycs-times-square\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-16T17:10:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T06:19:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/FinalLobbyRenderings2_HR.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1125\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hilton-unveils-new-doubletree-in-nycs-times-square\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hilton-unveils-new-doubletree-in-nycs-times-square\/\",\"name\":\"Hilton Unveils New DoubleTree in NYC\u2019s Times Square - 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