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May. 31, 2013

Midtown Manhattan Hospitality Market Heating Up with New EVEN, SpringHill Hotels

By Veronica Grecu, Associate Editor

InterContinental Hotels Group (IHG) recently announced it has decided on a second location for its new EVEN Hotels property in New York City, falling under an ownership group led by long-time business partners Frank Chan and Lance Steinberg. Located at 321 West 35th St. in Midtown Manhattan, the new EVEN Hotels property will add 150 guest rooms over 25 floors to the city’s ever-growing hospitality market.

The EVEN Hotels brand was designed for business and leisure travelers who like to keep a healthy and active lifestyle. The brand was launched by IHG in February 2012 with a focus on wellness space, from offering state-of-the-art gym and workout spaces to healthier food options, as well as peaceful design elements and amenities.

“The wellness industry continues to grow, and the need for a hotel brand like this one has never been greater,” said co-owner Lance Steinberg in a statement for the press. “IHG’s innovative approach to brand creation and the strength of their portfolio made them the ideal choice for our first venture into the hotel real estate business.”

The 77,000-square-foot EVEN Hotel in Midtown Manhattan is expected to open mid-year in 2015.

In October 2012, IHG announced the first-ever EVEN Hotel at 219 East 44th St. on the east side of Midtown Manhattan, an 87,000-square-foot new-build that is also scheduled to open in 2015. Also co-owned by the Chan-Steinberg partnership, the 23-story facility will have 230 guest rooms, flexible meeting space, and dining areas that will serve healthy food and beverages.

According to IHG, as many as 100 new EVEN Hotels are expected to be signed in the U.S. within the next five years.

In addition to these developments, SpringHill Suites by Marriott recently celebrated its 300th milestone with the opening of a new hotel at 25 West 37th St. near Herald Square. The 18-story, 173-room SpringHill Suites by Marriott/Manhattan Fifth Avenue is owned by Robert Finvarb Companies and Hidrock Partners, who also served as the project’s developer.

For more market data from New York City, click here.

Correction: both of the New York City EVEN Hotels are slated for 2015 openings.

 Rendering of the EVEN Hotel via evenhotels.com

 Rendering of  SpringHill Suites by Marriott courtesy of the Robert Finvarb Companies