PALISADES, NY—HNA Group has acquired the International Business Machines’ (IBM) 106-acre, 450,000-sq.-ft. Palisades Conference Center, located 20 miles north of Manhattan, as a resource and training center for HNA Group’s global executive team. The conference center will now be known as the HNA Palisades Premier Conference Center.
HNA has retained Crescent Hotels & Resorts to manage the property on its behalf.
The conference center property is located at 334 Rt. 9W. Terms of the transaction were not disclosed.
HNA Group is a global multinational with interests in airport services, transportation, real estate, financial services, leasing, tourism, hotels and logistics.
IBM plans to maintain a presence at the property, according to HNA. The Palisades Conference Center provides financial institutions, universities and services organizations with training and education facilities, as well as hosting customer events.