Blackstone Acquires Rihga Royal

Affiliates of Blackstone Real Estate
Advisors
today announced the acquisition of New York’s Rihga Royal, a JW
Marriott Hotel, and expect to assume complete management oversight of the
property by early summer. Blackstone Real Estate Advisors has a history of
significantly reinvesting in its assets and dramatically improving
services and facilities and the same is anticipated for the Rihga Royal.
The terms of the transaction were not disclosed.Manhattan’s premier luxury all-suite hotel, the sleek 54-story Rihga is
located in the heart of midtown’s Theatre District and just steps from New
York City’s business and shopping districts, Central Park, Carnegie Hall
and Broadway Theatres. The hotel offers guests 505 spacious suites with
such in-room amenities as personal training, massage services and exercise
accessories.
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