Kimpton Buys the Muse in NYC
NEW YORK, NY, February 09, 2006. Kimpton Hotels and Restaurants Group, LLC has added The Muse Hotel and District Restaurant near Times Square to its growing portfolio.
This property marks the second New York City hotel in the Kimpton portfolio of 40 hotels. In 2004, Kimpton added the 70 Park Avenue hotel, located in Midtown.
To elevate the 200-room Muse to Kimpton's signature brand style, services and amenities, the property will embark on a $5 million enhancement project.
Mike Depatie, Kimpton's president, said New York has been a key target market for Kimpton, and "The Muse's premium offerings and ideal Times Square location provide a welcome alternative to the larger conference hotels and trendy, yet non-functional, boutique hotels in this area. "
"Our strategy of taking over existing hotels in desirable locations, to reposition as a Kimpton property, is something the Kimpton Hotels and Restaurants will continue to pursue as opportunities arise," said Tom LaTour, Kimpton's chairman/CEO.
Kimpton Hotels was awarded management of The Muse Hotel and District Restaurant by Cornerstone Real Estate Advisers LLC, an indirect, wholly owned subsidiary of the MassMutual Financial Group.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
