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M&C buys hotel in New York for US$273.6m
Published Mon, Feb 10, 2014 · 10:00 PM
MILLENNIUM & Copthorne Hotels, through its wholly-owned indirect subsidiary M&C New York (Times Square), is acquiring the freehold interest in Novotel New York Times Square for US$273.6 million.
The seller is 226 West Fifty-Second Street, a partnership led by a fund affiliated with Apollo Global Management and Chartres Lodging Group.
The purchase price is to be paid in cash, subject to standard purchase price adjustments.
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