Interstate Hotels & hotelAVE to Bring The Gregory to Herald Square in NYC, Spring 2015

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. February 19, 2015

NEW YORK - February 19, 2015 - The Gregory, a new 132-room boutique hotel located at 42 West 35th Street in NYC, was announced today for a spring 2015 opening. Steps away from one of Manhattan's most active and prime transportation and retail hubs, The Gregory will offer serenity and hospitality, embrace the creativity of Silicon Alley, and embody the bespoke craftsmanship of the Garment District all in the heart of Herald Square. This is the second collaboration between Interstate Hotels & Resorts, hotel Asset Value Enhancement (hotelAVE), and Meadow Partners, the team behind The Renwick, which is launching this summer at 118th East 40th Street in NYC.

The hotel first opened as The Gregorian in 1903 to cater to the overflow of well-to-do guests checking into the original Waldorf-Astoria, its former sister property that is now the site of the Empire State Building. Following a complete renovation, today's Gregory will pay homage to its old world past while delivering an experience tailored to the needs of the young, cultured traveler seeking the authentic spirit of New York City.

The elaborate intricacies of the original architecture, including soaring high ceilings and mosaic tile detailing, will be infused with modern amenities to create a timeless yet fresh aesthetic made evident throughout each of the hotel's guestrooms and suites. New York-based design firm Bill Rooney Studio has been tapped to bring the project to life, creating inviting interiors outfitted with decor elements that channel the elegance of 1940s New York City street style to instantly transport guests back in time. Each guest room will feature a rich color palette and vintage-inspired accents, producing an air of intimacy with a slight masculine touch.

"We are incredibly excited to expose future guests of The Gregory to a new, higher energy New York City hotel and the timing for its launch couldn't be more perfect," said General Manager, Deborah Alarcon. "Nowhere else in the city will there be a more authentic and comfortably cool place to sleep, work and play."

Drawing from the vibrancy of its buzzing neighborhood, The Gregory's interactive lobby space will be intently designed as a gathering place for guests and locals alike. Sleek clusters of seating areas adjacent to a roaring fireplace will encourage patrons to strike up conversation or simply "plug and play." By day, the lobby will be energized by the communal work of thriving entrepreneurs and come evening, the space will transform into a sophisticated living room library ambiance reminiscent of an Upper East Side townhome.

To learn more, please visit www.thegregoryhotelnewyork.com.

About Interstate Hotels & Resorts, Inc

Interstate Hotels & Resorts, Inc., a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging Group and Jin Jiang Hotels, is the leading U.S.-based global hotel management company, operating branded full- and select-service hotels and resorts, convention centers and independent hotels worldwide. Interstate and its affiliates manage 426 hotels with over 79,000 rooms in North America, Europe and Asia-Pacific, with ownership interest in 37 hotels. In addition, Interstate has executed agreements to manage 36 hotels with nearly 6,000 rooms under construction or development throughout the world.

About hotel Asset Value Enhancement (hotelAVE)

Hotel Asset Value Enhancement, Inc. (hotelAVE) provides Asset Management Services to the property. Prior to acquisition, hotelAVE completed the acquisition due diligence; repositioning and facility program analysis; and new manager selection. With offices in Providence, New York and LA, the firm's current asset management portfolio comprises over $4B of and 15,000 rooms and an additional $4B of assets it advises on annually. For more information, visit: www.hotelAVE.com.

About Meadow Partners

Meadow Partners is an independent, privately owned real estate investment and asset management firm. Through its three institutional investment funds, Meadow Partners has acquired over $2.2 billion of properties in New York City and London since its inception in February 2009.

About Bill Rooney Studios

Bill Rooney Studio, Inc. provides bespoke interior design services for select hospitality and residential commissions. We provide solutions to each project that are one-of-a-kind. Each space we create is alluring, distinctive, and comfortably pairs with the expectations of each client and ultimately the guest. Bill Rooney Studio, Inc. has recently completed the Peninsula New York Gotham Lounge, The Hanover Inn at Dartmouth College, and the 68 story Marriott Courtyard / Residence Inn Central Park in New York which is the tallest single use hotel in the US and the Residences Inn component has won a the 2014 Gold Key Award for Best Guestroom - Midscale.