NEW YORK In an effort to further penetrate the booming New York hotel market, Ian Schrager is planning to build two hotels in downtown Manhattan, each targeting different price points.
The first project aims to target the deep-pocketed crowd with a 200-room hotel in NoHo. The hotel will be designed by noted Dutch architect Rem Koolhaus, in collaboration with a Swiss firm Herzog & de Meuron. The 100,000-square-foot building, scheduled to break ground next year, will be across from Cooper Union on the site of a former parking lot.
The second downtown hotel, on a site north of Houston Street, will target guests with less to spend and will have 150 to 200 rooms. This hotel will be designed by Philippe Starck. (11/27/00)
SOURCE: Crain s New York Business