Destination Hotels To Manage NYC’s Algonquin

NEW YORK— Destination Hotels & Resorts of Denver is in final talks to manage the Algonquin Hotel here, which was recently bought by Denver-based Miller Global Properties, reported crainsny.com. A management contract should be inked within the next week, says Geoffrey Mills, vp/The Camberley Hotel Co., the propertys current manager. This would be the first New York hotel for Destination Hotels & Resorts. The company owns and manages more than 24 hotels and resorts, including the Hotel del Coronado in San Diego. As previously reported by HOTEL BUSINESS®, Miller Global Properties finalized a deal several weeks ago to acquire the famed literary haunt at 59 W. 44th St. for an estimated $42 million from Olympus Real Estate Partners in Dallas. The purchase is expected to be complete by the end of June. At one point last year, the hotel was poised to fetch as much as $48 million from noted local hotelier Bernard Goldberg, reported Crains. That deal was derailed by the Sept. 11 terrorist attacks SOURCE: crainsny.com