NEW YORK
Marriott has reportedly agreed to buy the Clock Tower building in New York City for $165 million. The Wall Street Journal reported yesterday that Marriott signed a contact earlier this month on the deal, according to people familiar with the matter.
It is further speculated that the building would become part of Edition, Marriott’s boutique brand. "Marriott does not like to comment on market rumors and speculation," says a company spokeswoman . "We are very excited about the future of the Edition brand - and have two hotels in the pipeline as it stands today - in London and Miami.
Marriott recently stated it will refocus on the slow-to-develop Edition brand, conceived with input from Ian Schrager, who is considered the boutique concept’s pioneer.
Courtesy of hotelsmag.com
