Langham Hospitality Group (LHG) announces the signing of a Sales and Purchase Agreement between Great Eagle Group, parent company of LHG and 400 Fifth Realty LLC which is owned by Bi&Di Real Estate SpA – incorporated in Varese, Italy – to acquire The Setai Fifth Avenue hotel located at 400 Fifth Avenue in midtown Manhattan, New York. The hotel is scheduled to join the Langham portfolio in January 2013.
To be rebranded as Langham Place, the hotel will epitomise luxury living in the 21st century in Manhattan, New York with its contemporary accommodation, stylish design and stimulating art. The hotel’s modern and elegant design is a perfect fit with the Langham Place brand and provides a great opportunity for the Group to introduce our sense of stimulating hospitality to New York.
This strategic purchase signals the Group’s plans for long-term expansion in key gateway cities in the United States. Currently, The Langham hotels are located in Boston, Pasadena Los Angeles, and Chicago (opening Third Quarter of 2013).