NEW YORK This summer, a 52-story, 562-room W Hotel valued at $175 million will open in Times Square. According to Crain s New York Business, the developer, Intell Management, chose Starwood Hotels & Resorts W Hotels brand over other considerations including the Sheraton and Radisson brands.
According to Crain s, “In Times Square, the W formula faces its biggest challenge to date. The new hotel, which will be the chain s flagship, is being housed in a property originally intended for a Planet Hollywood hotel that fell victim to its parent s bankruptcy.” (12/18/00)